South Africa Boosts Health and Defence Spending Amid US Aid Cuts
2025-03-12
The Associated Press - Business News
In a bid to counter the impact of US aid cuts, South African lawmakers have unveiled plans to increase funding for healthcare and defence. However, this move is set to be offset by a 0.5% hike in value-added tax, which will likely drive up the cost of living as consumers face higher prices for goods and services, affecting their overall wellbeing and potentially influencing the country's economic growth and social welfare policies.
