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S. African Budget Draws Groans at Home, Shrugs Abroad

South Africa’s finance minister has announced a tax hike for next year, a move that has further annoyed South Africans who say they’re already suffering from a high tax burden, plus the added indignity of irregular basic services. But economists say investment won’t be any more deterred by this tax hike than it is by the nation’s other problems. South Africa Finance Minister Nhlanhla Nene acknowledged that there is little good news in this year’s national budget. “This has been a...

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