New finance minister Gordhan: South Africa sticking to sound fiscal management


epa03903643 South African Finance Minister Pravin Gordhan delivers remarks at a panel discussion titled From Poverty to Prosperity during the IMF World Bank Annual Meetings 2013 in Washington, DC, USA, 09 October 2013. The Annual meetings run through Saturday 12 October 2013. EPA/SHAWN THEW


NEWLY appointed South African finance minister Pravin Gordhan said on Monday Africa’s biggest economy would stay the course on sound fiscal management.

“We will stay the course of sound fiscal management. Our expenditure ceiling is sacrosanct,” said Gordhan, who returns for a second stint at the Treasury after a dramatic U-turn by President Jacob Zuma.-Reuters