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FinMin Warns Of "Difficult" Budget, S. Africa Stands Its Ground On Cuba & Palestine

SOUTH AFRICA
  • Finance Minister Enoch Godongwana warned that next month's budget will be a "difficult one" amid growing debt servicing costs. The official told Newzroom Afrika that he will use the opportunity to announce more measures to arrest debt as "we are operating in a fairly constrained fiscal space". The next budget will be delivered under political pressure, with the ruling African National Congress (ANC) facing general elections later in the year.
  • South Africa will not back down on supporting Cuba and Palestine despite pressure from "influential" nations, Deputy President Paul Mashatile said at the seventh Cuba-Africa international solidarity conference.
  • Transnet said that the country's main coal export line has been shut since Sunday due to a collision between two freight trains caused by a communication failure.
  • Bank of America (BofA) have pencilled in a SARB rate cut for 2H2024 noting that domestic inflation moderates and the global environment becomes more dovish.
  • South Africa will report its electricity production/consumption for the month of November at 11:00GMT/12:00CET.
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