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Ramokgopa Provides Estimates Of Loadshedding Costs, Pandor Comments On BRICS Summit

SOUTH AFRICA
  • Electricity Minister Kgosientsho Ramokgopa warned that loadshedding is expected cost the economy about ZAR400bn more this year than in 2022. It may also reduce the tax take by ZAR77bn or 5% of the total tax revenue in 2021/22. Job losses caused by the rolling blackouts are estimated to reach 860,000 this year. As a caveat, these figures are based on modelling done in April on the assumption of higher stages of loadshedding that were later implemented.
  • South Africa's chief diplomat Naledi Pandor said that BRICS is not an anti-Western or pro-Russian alliance. She stressed that "South Africa's trading partners in the West are very, very important to South Africa's economic progress," trying to reinforce the country's non-aligned stance in international relations. On the proposed rules for the expansion of BRICS, she said that Foreign Ministers were "close to finality" in terms of their report.
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