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South Africa is seeking to cut government budgets as it moves to contain debt after promising billions of rands to rescue its power utility and a weak economy damps tax collection. The National Treasury has asked departments to prepare proposals on how to reduce expenditure in a way that has the least impact on service delivery. It’s seeking cuts of 5% for 2020/21, and 6% and 7% for the next two years, the Treasury said. That could be as much as R300-billion over three years.