South Africa raises income taxes for first time since 1995

South Africa will raise income taxes for the first time in twenty years, Finance Minister Nhlanhla Nene said in a gloomy budget speech on Wednesday, as he cut economic growth forecasts and widened budget deficit estimates.

SA widens 2015/16 budget deficit forecast to 3.9%

South Africa expects a budget deficit of 3.9 percent of GDP for the 2015/2016 financial year, wider than its 3.6 percent forecast in October as weak economic growth keeps revenues low, Finance Minister Nhlanhla Nene said on Wednesday.

Budget Speech: Food Security an absolute priority

Food security remains a top priority, with 1000 farms set to benefit from a recapitalisation and development programme, Finance Minister Nhlanhla Nene announced on Wednesday