South Africa took a step closer to another credit-rating downgrade as a slowing economy forced Finance Minister Nhlanhla Nene to boost debt at the same time that mounting spending pressures fueled protests against the government. Nene, 56, struggled to provide the level of confidence investors were looking for in a mid-term budget on Wednesday that was marred by clashes outside Parliament between police and university students calling for lower fee increases. His speech was disrupted as opposition lawmakers were ejected from the National Assembly for chanting “fees must fall” in support of the...
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