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Treasury committed to cutting deficit

Economy
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The Standard & Poor's building is seen in New York. Picture: Jessica Rinaldi

Johannesburg - South Africa's Treasury said on Friday it was committed to reducing the budget deficit and was confident it would still be able to access capital markets for foreign currency funding despite a rating downgrade from Standard & Poor's.

In a statement, the Treasury acknowledged the negative impact on the economy of a crippling platinum strike which partly prompted the S&P downgrade, hours after Fitch had put the country on negative outlook from stable. - Reuters

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