Economics
South Africa Looks Past Gloomy Budget in Drive for $100 Billion
- President Ramaphosa’s investment summit starts on Thursday
- Mid-term budget showed higher debt level and wider shortfall
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South Africa is hoping investors will look past Finance Minister Tito Mboweni’s bleak mid-term budget as the country seeks to woo $100 billion into its economy.
The nation’s first investment summit will kick off Thursday after Mboweni’s plans showed government debt peaking later and at higher levels, the fiscal shortfall widening and state revenue continuing to undershoot.