Treasury rules out further drawdowns from GFECRA to boost revenue
submitted 7 months ago by Lthabo1999
submitted 7 months ago by Lthabo1999
- The National Treasury in South Africa has decided not to take more money from the Gold and Foreign Exchange Contingency Reserve Account to increase revenue, as it is meant to protect against foreign exchange changes.
- They plan to draw down R25 million in each of the next two years, and renegotiating the country's debt is not preferred to avoid negative impacts on the country's credit rating and borrowing ability.
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