South Africa Budget Approval in Sight After Tax Wrangle Ends
South Africa's National Assembly approved the Treasury's fiscal framework, bringing the adoption of the annual budget a step closer after months of wrangling over tax increases.
The framework, which establishes economic policy, revenue projections and limits on government spending, was approved by 268 votes to 88, with two abstentions, at a sitting in Cape Town on Wednesday. The legislature is due to process other laws that underpin the budget by the end of next month.
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