JOHANNESBURG - South Africa's debt picture is looking better.
That is not because it's suddenly paid off more creditors, but instead it is because a recent revision exercise showed the economy was bigger than thought, and debt, which is shown as a ratio, is relatively smaller.
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Stats SA announced recently that the South African economy is 5.3% larger than previously stated.
Treasury says this means the debt-to-GDP ratio peaked at 74.6% in the last financial year, down from 78.4%, which was the previous estimate.