Wednesday, February 11, 2009

S.Africa ramps up spending to fight slowing growth

CAPE TOWN (Reuters) - South Africa ramped up spending in its 2009 budget and cut taxes to counter a global slowdown and boost an economy seen limping to its lowest rate of growth in more than a decade.

Finance Minister Trevor Manuel also delayed the introduction of mineral royalties until next year as miners struggle amid falling commodity prices and easing global demand.

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