CAPE TOWN, (Reuters) – South Africa will aim to maintain debt at sustainable levels, stabilising at 43.7 percent of GDP by 2017/18, the Treasury reiterated in a presentation in parliament on Tuesday.
In his 2015 budget statement in February, Finance Minister Nhlanhla Nene said the government had increased borrowing over the last five years to try and support the economy, resulting in net debt nearly doubling to 40.8 percent of GDP by 2014/15.
(Reporting by Wendell Roelf; Writing by Stella Mapenzauswa; Editing by James Macharia)
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