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All eyes on the treasury

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For at least the next seven weeks, the South African economy is set to be plagued by heightened tension and uncertainty, with the focus firmly on the National Treasury ahead of the mini-budget speech and the latest round of credit rating reviews.

Adding to the economic anxiety was the news this week that the National Prosecuting Authority (NPA) had charged Finance Minister Pravin Gordhan with fraud related to R1.1 million paid to former SA Revenue Service official Ivan Pillay.

Gordhan responded to the charges by saying: “I intend to continue doing my job. The cause of defending ethical leadership in government and throughout society is too important to allow ourselves to be deterred by this kind of harassment.

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