April 30, 2024 06:26 GMT
Trade & Budget Data, Bond Auction Eyed
SOUTH AFRICA
- Ex-President Jacob Zuma's MK Party said that it expects to be in the next government and would like to use this position to boost state revenue by increasing capital gains and inheritance taxes. The party's economic policy expert Thanti Mthanti said that "with us the emphasis is on taxation, maybe more on capital income than on labour income."
- The Presidency downplayed accusations that the lack of loadshedding is a ploy to win votes in the upcoming elections and insisted that it was a result of the government's Energy Action Plan (EAP).
- The National Treasury will sell ZAR1.25bn of 7.000% 2031 bonds, ZAR1.25bn of 8.875% 2035 and ZAR1.25bn of 8.500% 2037 bonds today.
- South Africa's M3 money supply rose 6.85% Y/Y in March, beating the +5.70% consensus forecast. Private sector credit grew 5.18% Y/Y versus +3.43% expected.
- Trade balance and budget balance data for March will be published at 13:00BST/14:00SAST.
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