South Africa 2010/11 revenue 674.2 billion rand

PRETORIA: South Africa collected 674.2 billion rand ($99.61 billion) in revenue in the fiscal year ended March 31, slightly more than a target of 672.2 billion rand, Finance Minister Pravin Gordhan said on Friday.

"The remarkable performance that SARS (South African Revenue Service ) is reporting indicates that our economy is recovering," Gordhan said, adding the fiscal deficit for 2010/11 was likely to be 5.0 percent of GDP, lower than the previous forecast of 5.3 percent.