September 21, 2018 / 9:00 AM / 3 months ago

S.Africa's Ramaphosa says shifting budget spending will steady economy

PRETORIA, Sept 21 (Reuters) - South African President Cyril Ramaphosa said the country’s economy would be put on a firmer footing by the re-allocation of 50 billion rand ($3.5 billion) in public spending he announced on Friday.

Finance Minister Nhlanhla Nene added at the same media briefing that funds for the financial intervention would be found from under-performing government programmes, without giving any details. (Reporting by Olivia Kumwenda Mtambo; Writing by Joe Brock; Editing by James Macharia)

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