South African minister vows 'sound fiscal management' after rand collapse

GMT 12:23 2015 Monday ,14 December

Arab Today, arab today South African minister vows 'sound fiscal management' after rand collapse

South Africa's new Finance Minister Pravin Gordhan
Pretoria - Arab Today

South Africa's new Finance Minister Pravin Gordhan vowed Monday to stabilise the economy after his predecessor lasted just four days in the job amid a dramatic slump in the rand.

"We will stay the course of sound fiscal management," Gordhan told reporters. "Our expenditure ceiling is sacrosanct. We can have extra expenditure only if we raise extra revenue."

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