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SOUTH AFRICA: Treasury Says Municipalities Spending More Than They Have

SOUTH AFRICA
EM BulletBulletGlobalEmerging Market NewsRegion
  • The National Treasury says the aggregate operating budgets of municipalities spending beyond their means fell into deficit during the 2024/25 financial year, Business Day report. The Treasury warned that failure to meet revenue targets could worsen financial distress in municipalities as spending continues despite lower collections.
  • The SARB’s holdings of government securities decreased from ZAR 36.2bn in September to ZAR 35.3bn in October, according to data from the central bank. Meanwhile, South Africa's gross reserves fell marginally - to $63.028bn in October from $63.633bn in September.
  • Electricity consumption and production data for September will cross the wires at 11:00GMT/13:00SAST. There are no other major data releases scheduled for the remainder of the week.
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  • The National Treasury says the aggregate operating budgets of municipalities spending beyond their means fell into deficit during the 2024/25 financial year, Business Day report. The Treasury warned that failure to meet revenue targets could worsen financial distress in municipalities as spending continues despite lower collections.
  • The SARB’s holdings of government securities decreased from ZAR 36.2bn in September to ZAR 35.3bn in October, according to data from the central bank. Meanwhile, South Africa's gross reserves fell marginally - to $63.028bn in October from $63.633bn in September.
  • Electricity consumption and production data for September will cross the wires at 11:00GMT/13:00SAST. There are no other major data releases scheduled for the remainder of the week.