The rand fell the most since September 2020 on Thursday as the reality of the country’s dire fiscal situation sunk in, despite what was widely considered to be a positive budget.
Even though finance minister Tito Mboweni’s budget was largely welcomed by analysts, as it attempted to address debt while not raising personal or company taxes, some believe there is still a long way to go...A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
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