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SOUTH AFRICA: Gov't Accused Of "Steamrolling" Budget Through Legislature

SOUTH AFRICA
  • Minister of Mineral and Petroleum Resources Gwede Mantashe said that South Africa is open to importing Russian gas for its PetroSA refinery. He noted that it would be in South Africa's interest to boost trade relations with Russia, pointing to the two countries' membership in the BRICS group.
  • Bank of America wrote that the new government of national unity (GNU) could achieve a rating upgrade for South Africa in just a year. They noted that South Africa has passed 100 days without loadshedding an d an extension of this trend would potentially represent a structural improvement.
  • The EFF and MK Party accused the GNU of "steamrolling" departmental budgets through the legislature in order to meet the end of July deadline to pass the national budget. The National Assembly started the process on Tuesday, with the two parties claiming that committees did not have enough time to scrutinise the spending plans.
  • South Africa will sell inflation-linked bonds today.
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