BUDGET WRAP: R150bn windfall from Reserve Bank to slash SA’s debt burden
Also contributing to enhanced fiscal prudence will be the Treasury’s plans to develop a fiscal anchor in 2024
21 February 2024 - 14:06
The government’s debt stabilisation strategy over the next three years will be significantly bolstered by a net R150bn injection from the R507bn Reserve Bank Gold and Foreign Exchange Contingency Reserve Account (Gfecra), which will improve SA's fiscal prospects.
This will be used to pay off government debt, resulting in lower gross loan debt and debt service costs. It will be provided for in legislation tabled in parliament on Wednesday, with the drawdown taking place in the 2024/25 fiscal year. ..
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