[miningmx.com] – SOUTH Africa faced difficult choices in respect of its finances amid a slide in commodity prices and growing risk aversion among investors to emerging markets, said BDLive citing comments made by finance minister, Pravin Gordhan, Take Radio 702.
“We will have to make some tough decisions on how we run the finances of this economy,” Gordhan said. “We need to redouble our efforts. It’s important to create hope and optimism,” he added.
Gordhan is due to present the nation’s budget next month against the backdrop of weakening investor sentiment that saw the rand crash to a record low against the dollar this week, said BDLive.
He is seeking to restore credibility in fiscal policy after President Jacob Zuma took the economy closer to the brink of a junk credit rating and sent the rand into a tailspin in December, when he unexpectedly fired his former finance chief, Nhlanhla Nene.
