South Africa nears fiscal turning point, Treasury chief says

South Africa’s budget will show government debt stabilising relative to gross domestic product for the first time in almost 20 years, said the head of the National Treasury. It will also show a third straight primary surplus, supporting fiscal credibility and economic-growth prospects. “We are at an important turning point in South Africa’s fiscal trajectory,” Director-General Duncan Pieterse said in an editorial published in Business Day Monday. “Improved fiscal conditions will reduce the cost of servicing our debt, freeing up resources for critical frontline services and investment in public infrastructure.”