MNI BRIEF: EC: EUR93bn In NGEU Loans Unavailable For Defence

MNI China Daily Summary: Thursday, February 20

MNI BRIEF: U.S. Should Consult Before Tariffs Imposed - MOFCOM

MNI PBOC WATCH: Easing Paused Ahead Of Two Sessions

MNI BRIEF: China To Ensure Foreign Firms In Procurement

MNI: PBOC Net Drains CNY0.8 Bln via OMO Thursday

MNI: US FEB PHILADELPHIA FED MFG INDEX 18.1

MNI: CANADA JAN INDUSTRIAL PRICES +1.6% MOM; EX-ENERGY +0.9%

MNI: US JOBLESS CLAIMS +5K TO 219K IN FEB 15 WK

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SOUTH AFRICA: Talk Of VAT Hikes In 2025 Budget Grows Louder

SOUTH AFRICA
EM BulletBulletEmerging Market News
  • Rumours of potential tax hikes gained some broader traction ahead of Finance Minister Enoch Godongwana's Budget Speech scheduled to begin at 12:00GMT/14:00SAST. TimesLIVE reported that Godongwana had the support of the top echelons of the African National Congress (ANC) amid his plans to announce "substantial" VAT increases, despite earlier pushback from the party's coalition partners. Separately, BusinessDay reported that the Treasury is expected to "increase social grants by above inflation, freeze the fuel levy and increase the basket of zero-rated goods" in order soften the blow from the VAT hike.
  • According to a News24 article, the African National Congress (ANC) is set to inaugurate new provincial task teams (PTTs) in Gauteng and KwaZulu-Natal after "reconfiguring" party structures in the two provinces.
  • Statistics SA delayed the release of January CPI data until February 26 to ensure that all updates to the data and compilation systems were correctly implemented.
  • December retail sales data will cross the wires at 11:00GMT/13:00SAST. Bloomberg consensus looks for a 3.9% Y/Y expansion in real retail sales.
166 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Rumours of potential tax hikes gained some broader traction ahead of Finance Minister Enoch Godongwana's Budget Speech scheduled to begin at 12:00GMT/14:00SAST. TimesLIVE reported that Godongwana had the support of the top echelons of the African National Congress (ANC) amid his plans to announce "substantial" VAT increases, despite earlier pushback from the party's coalition partners. Separately, BusinessDay reported that the Treasury is expected to "increase social grants by above inflation, freeze the fuel levy and increase the basket of zero-rated goods" in order soften the blow from the VAT hike.
  • According to a News24 article, the African National Congress (ANC) is set to inaugurate new provincial task teams (PTTs) in Gauteng and KwaZulu-Natal after "reconfiguring" party structures in the two provinces.
  • Statistics SA delayed the release of January CPI data until February 26 to ensure that all updates to the data and compilation systems were correctly implemented.
  • December retail sales data will cross the wires at 11:00GMT/13:00SAST. Bloomberg consensus looks for a 3.9% Y/Y expansion in real retail sales.