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Support For EFF Dwindles, Finance Minister Says GDP Outlook Revision Is Warranted

SOUTH AFRICA
  • Support for the opposition Economic Freedom Fighters party halved in the past eight months, according to a poll conducted by the Social Research Foundation. The survey was taken before the "national shutdown" called by the populist party and put the EFF on 6% versus 12% in July. The African National Congress was the most preferred party with 52% of popular support, while the main opposition Democratic Alliance scored 24%. The authors of the survey observed that although support for the ANC and DA is stable "that for the EFF is down sharply," which bodes ill for the third-biggest party's election chances.
  • Finance Minister Enoch Godongwana told lawmakers that weaker than expected GDP outturns for 2022 warrant a review of the economic growth outlook and the associated risks. Godongwana refused to give precise estimates of the impact of load-shedding on GDP growth in each financial year since 2008.
  • South Africa's non-farm payrolls for 4Q2022 will be published at 10:30BST/11:30SAST. Employment rose 0.3% Y/Y in the previous quarter.
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