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MTBPS Seen Sticking to Fiscal Consolidation Track

SOUTH AFRICA
  • Godongwana’s MTBPS takes focus today, with the finance minister to present the statement at 2pm local time (1300BST / 0800ET). Full MNI preview including expectations and summary of sell-side views here: https://roar-assets-auto.rbl.ms/documents/19873/MN...
  • Summary: Public finances are expected to be on a better track, with the deficit seen stabilizing at 4.5 – 5.0% of GDP. Better growth outlook and commodity price seen pressuring debt-to-GDP ratio below 73%. Market to focus on Eskom debt re-structuring plans and any basic income grant announcement.
  • The independent panel appointed to proceed with Section 89 impeachment proceedings into President Ramaphosa has been requested to look into further claims that a top adviser illegally brought millions of dollars into the country. The request has been tabled by UDM leader Holomisa, who cited evidence provided by former Spy boss Arthur Fraser.

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