Government has expressed disappointment at rating agency S&P’s decision to downgrade South Africa’s sovereign rating amidst the COVID-19 pandemic.

South Africa’s economy is expected to grow by 0.9% in 2020, National Treasury said on Wednesday.

From next month, consumers buying property valued at less than R1 million will no longer be required to pay transfer duties, the National Treasury announced on Wednesday.

Sub-1% economic growth insufficient to curb vacancy rate rise and unlikely to prop up real property values at recent levels'.

A free advice centre is helping to facilitate formal residential property transactions in Cape Town’s largest township, Khayelitsha.

Government will in the 2019/20 financial year again increase excise duties on alcohol and tobacco in an effort to raise much-needed revenue for the national fiscus, Finance Minister Tito Mboweni said on Wednesday.

Government’s Infrastructure Fund is set to receive a R100 billion over the next decade as the state steps up its infrastructure programme by partnering with the private sector.

National Treasury has revised down the South African economy’s growth to 1.5% in 2019.

The budget deficit for the 2018/19 financial year is expected to widen to 4.3% of the Gross Domestic Product (GDP) – which is higher than the 2018 Budget estimate of 3.8%.

South Africa’s growth outlook has been revised downwards to 0.7% in 2018, said National Treasury on Wednesday.