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Finance minister Tito Mboweni laid bare the Herculean task to stabilise government debt, "close the mouth of the hippopotamus", and avoid the country falling into bankruptcy.

In his eagerly awaited supplementary budget on Wednesday, Mboweni said the country needed to reclaim its "fiscal credibility" if it was to avoid a scenario that would see its debt explode to more than 140% of GDP by 2028...

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