Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
May 27 2012 11:49
The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.
Johannesburg - South Africa's budget deficit narrowed in the first eight months of the 2010/11 financial year, thanks to a higher tax take due to the economic recovery.
A statement posted on the National Treasury's website on Thursday showed the budget deficit narrowed to R135.05bn rand from April to November, compared with R152.15bn a year ago.
Tax revenue was higher at R388.462bn, compared to R337.32bn in the same period a year ago.
In its medium term budget statement in October, the Treasury said it expected to collect R761bn in tax for the 2010/11 financial year, and the budget deficit would narrow to 5.3% of gross domestic product, compared with 6.7% in 2009/10.