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South African Supply Chain Pressures at New High

SOUTH AFRICA
  • EWN reports that calls for the fuel levy to be scrapped are growing, and a scrap of the levy would help South Africans who are struggling to make ends meet. The levy reportedly collects around R90bln per year, but the report sees the Treasury being forced to look at other interventions to head off the energy crisis.
  • Moneyweb cites research from PWC finding that supply chain pressures across South Africa are now worse than at the height of the pandemic and the Global Financial Crisis. The report writes that South Africa are facing global issues including the invasion of Ukraine as well as lockdowns in China on top of domestic issues including the KwaZulu-Natal floods and loadshedding/rolling blackouts. PWC have marked down their 2022 GDP forecast to 2%.
  • Unemployment rate and trade balance data crosses later today, as well as a R3.9bln bond sale of 2021, 2037 and 2044 debt.
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