SOUTH Africa's government will draw down $8 billion over the next three years from contingency reserves held at the central bank to limit rising debt, the National Treasury said. Africa's most industrialised economy has barely grown in over a decade, with rising debt-servicing costs eating up a growing share of the national budget. The bleak economic backdrop is looming large over a general election due on May 29 that could see the governing African National Congress party lose its parliamentary majority for the first time since the end of apartheid 30 years ago. Presenting the 2024 budget, Finance Minister Enoch…