South Africa announces austere budget to trim deficit, avoid downgrades

By Stella Mapenzauswa and Olivia Kumwenda-Mtambo CAPE TOWN (Reuters) - South Africa announced an austere budget on Wednesday aimed at avoiding cuts in its credit ratings, and vowed to focus spending on priority areas after weak economic growth reduced its revenue. The measures may appease ratings agencies, which have said they might lower South Africa to sub-investment grade after President Jacob Zuma changed finance ministers twice in less than a week in December, casting doubt over Pretoria's