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SOUTH AFRICA: Ramaphosa To Attend BRICS Summit Later This Week

SOUTH AFRICA
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  • Barclays wrote that "given the difficulties associated with targeting a point estimate - especially for a country such as South Africa where the inflation basket is significantly susceptible to the vagaries of weather, oil prices, currency shocks and food prices," lowering the inflation target in South Africa to a +3.0%-4.5% Y/Y range from +3.0%-6.0% would be a "good starting point towards an eventual +3% +/- 1pp target over time."
  • President Cyril Ramaphosa will later this week (Oct 22-24) lead the South African delegation to the BRICS Summit in Kazan, Russia, where he will hold bilateral talks with his local counterpart Vladimir Putin. News24 reported that the event would be attended by the leaders of 24 countries and Russia has also extended an invitation to UN Secretary General Antonio Guterres.
  • BusinessDay reported that "budget cuts imposed by the Treasury left the health department unable to fill a quarter of its posts in 2023/24," citing a presentation in parliament from South Africa's Health Director-General Sandile Buthelezi.
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  • Barclays wrote that "given the difficulties associated with targeting a point estimate - especially for a country such as South Africa where the inflation basket is significantly susceptible to the vagaries of weather, oil prices, currency shocks and food prices," lowering the inflation target in South Africa to a +3.0%-4.5% Y/Y range from +3.0%-6.0% would be a "good starting point towards an eventual +3% +/- 1pp target over time."
  • President Cyril Ramaphosa will later this week (Oct 22-24) lead the South African delegation to the BRICS Summit in Kazan, Russia, where he will hold bilateral talks with his local counterpart Vladimir Putin. News24 reported that the event would be attended by the leaders of 24 countries and Russia has also extended an invitation to UN Secretary General Antonio Guterres.
  • BusinessDay reported that "budget cuts imposed by the Treasury left the health department unable to fill a quarter of its posts in 2023/24," citing a presentation in parliament from South Africa's Health Director-General Sandile Buthelezi.