PRETORIA (Reuters) - South Africa collected 814 billion rand in revenue in the fiscal year ended March 31 compared with a target of 810 billion rand, Finance Minister Pravin Gordhan said on Tuesday.
This still fell short of an initial revenue target of 826 billion rand set last year.
"The weak global environment and a number of domestic supply side disruptions, particularly in the mining sector, led to a moderation in economic growth," Gordhan told a news briefing.
"This negatively affected job creation and corporate profits, leading to a downward revision of revenue estimates."
Gordhan also said the estimated budget deficit for 2012/13 had been trimmed slightly to 5.1 percent of gross domestic product from a projection in February of 5.2 percent, and might even come in below 5 percent due to lower government spending.
The wave of mostly illegal strikes in the mining sector last year had cost the country 11 billion rand in lost revenue over the course of the financial year, he added.
Source: http://news.yahoo.com/africa-2012-13-revenue-exceeds-target-finmin-130739426--business.html
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