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CPI Inflation Rises By 1.3% In April

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SOUTH AFRICA

LOCAL NEWS

  • Local economist says he believes a one-off vaccine tax or wealth taxes are unlikely to occur at Fed 24th budget due to laffer curve constraints and limited marginal effectiveness. Expects ~7bn to 13bn funding to come through issuance or a spending reprioritisation from elsewhere.
  • Says Mboweni will likely provide a roadmap for this issuance plan, but may also look to approach the IMF for another loan
  • Local firm Lamar International Ltd. says it can make 15m doses of Sputnik V vaccine available for SA by May. Despite its 91.6% efficacy rate, the vaccine is yet to be tested vs the SA variant
  • Labour Min publishes new national minimum wage at R21.69/hr to take effect from 01 March - amounts to a 4.47% increase from R20.76 in 2020
  • Local analyst says extension of the Expropriation Bill to 28 Feb is welcome as the bill poses a systemic threat to SA property rights through expanded state powers to claim property.
    • Institute for Race Relations calls on citizens to rally to kill the Bill in the coming weeks
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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