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Pravin Gordhan South Africa sticking to 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.

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South Africa's Finance Minister Pravin Gordhan delivers his 2014 budget address at Parliament in Cape Town February 26, 2014. REUTERS/Mike Hutchings play South Africa's Finance Minister Pravin Gordhan delivers his 2014 budget address at Parliament in Cape Town February 26, 2014. REUTERS/Mike Hutchings (Reuters)

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.

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