Gigaba assures investors govt won't spend what it doesn't have

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Finance Minister Malusi Gigaba. (Pic: Theana Breugem, Netwerk24)
Finance Minister Malusi Gigaba. (Pic: Theana Breugem, Netwerk24)

Cape Town – Finance Minister Malusi Gigaba reassured local investors on Thursday that government won’t spend money it doesn’t have and that National Treasury is committed to fiscal sustainability and consolidation.

He made a brief introduction ahead of a question-and-answer session hosted at Parliament during which local asset managers and investors could raise their concerns, saying that government aims to stabilise debt as a percentage of GDP at 50%.

“National Treasury is under pressure from colleagues in Cabinet to increase their budgets and allowances,” Gigaba said.

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