Fitch Ratings, one of the big three ratings agencies on which SA depends for its credit rating, has expressed doubt that Treasury has the ability to contain government spending pressures following the tabling of Finance Minister Enoch Godongwana's maiden budget on Wednesday. Fitch noted that even though SA’s revenue overrun of R180-billion over the past fiscal year had improved public finances, SA had continued to "breach expenditure ceilings, pointing to difficulties in containing spending". Fitch also warns that SA’s revenue bonanza – due to high commodity prices – will prove temporary.
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