South Africa Set to Meet or Beat Budget-Deficit Goal, BNP Says

South Africa is on track to attain the National Treasury’s projected budget deficit for the current fiscal year, or achieve an even more-favorable outcome, due to restrained expenditure and healthier tax collections, BNP Paribas said.

“A combination of spending undershoots and revenue resiliency means that we think the National Treasury now looks on track to meet, or even beat, the main budget-deficit forecast,” BNP Paribas analysts led by Jeffrey Schultz said in a note on Thursday.