Treasury DG Lungisa Fuzile keeps his job
Cabinet has extended the contract of Treasury director-general Lungisa Fuzile‚ a move that is likely to assure the markets that government's fiscal consolidation remains on track.There has been speculation that Fuzile's contract would not be renewed‚ opening the way for President Jacob Zuma to replace him with an ally who shares his views on government expenditure.The speculation was fuelled by Zuma's unsuccessful bid to replace former finance minister Nhlanhla Nene by African National Congress backbencher Des van Rooyen which was seen as being part of a broader strategy to capture Treasury.Treasury has remained steadfast about the need to reduce government debt and excessive state spending and has resisted Zuma's ambitious plans to build a fleet of nuclear power stations.- TMG Digital/BDLive..
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