South Africans will have to contend with higher taxes and spending cuts next year. Finance Minister Pravin Gordhan delivered the government's medium term budget on Wednesday, warning of tough times ahead. The budget showed some fiscal consolidation, but also rising debt over the next three years. There have been mixed reactions to the speech, with most quarters praising the Minister for managing the budget in a weak economic climate. Sumitra Nydoo, filed this report.
- South Africa