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South African debt to jump to nearly 60 pct of GDP over 3 years - Treasury
October 25, 2017 / 12:25 PM / a month ago

South African debt to jump to nearly 60 pct of GDP over 3 years - Treasury

CAPE TOWN, Oct 25 (Reuters) - South Africa’s debt will rise by almost a trillion rand in the next three years to almost two-thirds of gross domestic product, Treasury said Wednesday, as stuttering economic growth hurts revenues.

Gross loan debt will swell to 3.4 trillion rand ($247 billion)in 2020 from 2.5 trillion currently as government accelerates borrowing in local and international markets, Treasury said in its medium term budget, adding that interest payments on debt remained the fastest growing spending item at 11 percent. ($1 = 13.7505 rand) (Reporting by Mfuneko Toyana; Editing by Tiisetso Motsoeneng)

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