South Africa to revise budget as COVID-19 hurts economy

South Africa will revise its budget as the COVID-19 pandemic takes its toll on an economy already in recession, Finance Minister Tito Mboweni said on Tuesday.

"We will naturally revise our fiscal framework to take into account the effect of COVID-19," Mboweni told journalists on a teleconference.

The National Treasury tabled the 2020 budget in parliament in February, forecasting that the budget deficit would hit an 18-year high in the 2020/21 fiscal year.