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OECD Calls For Higher Taxes

SOUTH AFRICA
  • According to The Daily Maverick, Igor Sechin, CEO of Rosneft, and widely believed to be Russian President Putin’s “de facto deputy”, secretly visited South Africa last week. President Ramaphosa has claimed no awareness of the visit at all. Reportedly, Sechin visited for a holiday in the regions around Cape Town, however he also spent some time in Gauteng, prompting considerable speculation that he may have met senior government officials.
  • The OECD have called on the Treasury to raise VAT and the general level of taxation to reduce the government budget deficit, finance infrastructure spending and grow social security spending, according to their 2022 Economic Survey.
  • No notable speakers or data due Friday, with focus remaining on the Jackson Hole Policy Symposium.

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