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Byline: MARIAM ISA
Last-minute revenue fillip may cut deficit A SURPRISE rise in tax revenue last month turned an expected shortfall into a surplus, which means this year's budget deficit may be smaller than thought. Treasury figures yesterday showed that improved personal, corporate and value-added tax led to a surplus of R3bn last month. Investec Asset Management's head of fixed income, Andre Roux, said this compared favourably with forecasts for a R14bn monthly shortfall.
In its budget last month, the Treasury predicted a budget deficit of 7,3% of gross domestic product (GDP) for the fiscal year, which ends today.
The actual outcome for the year will be …