South Africa published Mid-Term Budget Policy Statement today. The country widened deficit forecast for 2019 to 5.9% of GDP while next year’s deficit is expected to rise to 6.5%. Debt is expected to climb to 71.3% of GDP during the next three years. Moreover, the country will provide troubled utility company, Eskom, with a 10 billion ZAR bailout. USDZAR reversed losses and surged around 1.5% on the announcement.
USDZAR surged after Medium-Term Budget Policy Statement was announced. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
