From Business Day Live.

Revenue collections are down, “Things are not going how we anticipated,” and taxes could go up, South Africa’s Deputy Finance Minister told an audience Thursday at a South African Savings Institute event.

The economy is in a “precarious situation,” with economic growth and government revenue coming in below expectations and raising the possibility of tax hikes, Nhlanhla Nene said.

Finance Minister Pravin Gordhan hinted at tax hikes when he presented the budget in February.

Read more at Business Day Live.