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Reuters

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Moody's says South Africa unlikely to stabilise debt by 2023

The Treasury on Wednesday presented a supplementary budget in response to the coronavirus crisis that projected a wider budget deficit, while public debt was estimated to be more than three-quarters of gross domestic product in the medium term.

Rand little changed amid rising virus cases

The rand had regained ground after the budget speech, which forecast ballooning debt and a higher government deficit, as well as fading hopes globally of a quick economic recovery.