New South African finance minister: Budget may not stave off downgrades

CAPE TOWN (Reuters) - South Africa's incoming Finance Minister Nhlanhla Nene said on Tuesday that the budget tabled by his predecessor last week might not prevent further credit ratings downgrades, casting doubt on hopes it would help reduce a large national debt pile.

from RSSMix.com Mix ID 8265879 http://www.reuters.com/article/us-safrica-politics/new-south-african-finance-minister-budget-may-not-stave-off-downgrades-idUSKCN1GB0R8?feedType=RSS&feedName=worldNews