Market News
South African rand slips as investors await another revised budget - REUTERS
JOHANNESBURG, April 29 (Reuters) - The South African rand weakened on Tuesday as investors waited for the finance minister to say when he will present another revised national budget.
Finance Minister Enoch Godongwana has to make further adjustments after scrapping a contentious hike in value-added tax (VAT) that was fiercely opposed across the political spectrum.
A court on Sunday issued an order suspending the VAT hike and setting aside the adoption of the fiscal framework, paving the way for Godongwana to table new budget instruments in parliament.
