South African Budget Disappoints Investors Seeking Bold Plan

Updated on
  • Budget deficit set to narrow, no major tax increases planned
  • Economic growth forecast for 2016 cut by almost half to 0.9%

South Africa Finance Minister on Credit Outlook

South African Finance Minister Pravin Gordhan pledged to cut the civil service and increase wealth taxes to help bring down the budget deficit and stave off a credit rating downgrade to junk, yet disappointed investors looking for bolder action.

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