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Treasury Reining In Finances

Treasury says it will be keeping a tight fist on the country’s finances and won’t be entertaining any new, major spending requests.  

That’s what it needs to do if it’s going to reduce the country’s exorbitant debt, expected to reach R4.3-trillion this year.

Treasury says if it reins in spending over the medium term, the country could raise a small budget surplus by the middle of this decade.

It says addressing the energy crisis, and the stifled communications sector, is key to encouraging more private sector investment to grow the economy and create jobs.