In South Africa Debt service costs higher than projected: Treasury

"The main reasons for the over payment are higher interest on bonds than expected...," said a government official.

  • Published:
South Africa's President Jacob Zuma answers questions at Parliament in Cape Town, March 17, 2016. play South Africa's President Jacob Zuma answers questions at Parliament in Cape Town, March 17, 2016. (REUTERS/Mike Hutchings)
24/7 Live - Subscribe to the Pulse Newsletter!

 South Africa's debt service costs stood at 907.9 million rand($58 million) at the end of March, higher than previously projected, Treasury Director-General Lungisa Fuzile said on Tuesday.

"The main reasons for the over payment are higher interest on bonds than expected ... (and) higher interest on Treasury bills," Fuzile said in a presentation to parliament's finance committee.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.