South Africa: Debt Service Cost Rises to Close to R148 Billion

Finance Minister Pravin Gordhan on Wednesday announced that government would reduce South Africa's expenditure ceiling by R10bn in the next financial year and by a further R16bn in 2018/19.

In the medium-term budget policy statement (MTBPS) it was stated that total government spending over the next three years is expected to increase at 7.6%. Spending in most departmental segments will grow above inflation.

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