Pretoria - South Africa collected R674.2bn in revenue in the fiscal year ended March 31, slightly more than a target of R672.2bn, Finance Minister
Pravin Gordhan said on Friday.
"The remarkable performance that Sars (the South African Revenue Service) is reporting indicates that our economy is recovering," Gordhan said. He added the fiscal deficit for 2010/11 is likely to be 5.0% of gross domestic product (GDP), lower than the previous forecast of 5.3%.