Reuters logo
South Africa to stabilise debt in next year's budget - Gigaba
November 22, 2017 / 2:04 PM / 24 days ago

South Africa to stabilise debt in next year's budget - Gigaba

CAPE TOWN, Nov 22 (Reuters) - South Africa will implement spending cuts of 25 billion rand ($1.8 billion) and raise revenue by 15 billion rand in next year’s budget to contain growing debt, Finance Minister Malusi Gigaba told parliament on Wednesday.

Gigaba said the extra 40 billion rand, or 0.8 percent of GDP, would be used to tackle rising public debt which otherwise could balloon beyond 60 percent of GDP by 2022. ($1 = 13.8930 rand) (Reporting by Wendell Roelf; Editing by Joe Brock)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below