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South Africa Recession Adds Risks to Revenue Estimate, Nene Says
JOHANNESBURG (Capital Markets in Africa) – South Africa may collect less revenue than forecast for the year after the economy fell into a recession, Finance Minister Nhlanhla Nene said. “There is now additional downside risk to the tax revenue projected at the beginning of the year because of the contraction in the economy,” Nene said in an emailed copy of a speech. “Fixing our economy to ensure that it grows faster and in a more sustainable manner is…
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