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SOUTH AFRICA: Treasury loses another spending battle

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In a 15 July letter of commitment to South African Airways (SAA)’s business rescue practitioners, the ministers of finance and public enterprises committed “to mobilize funding for the short-, medium- and long-term requirements to create a viable and sustainable national airline….   Become a member to read the rest of this article Username or E-mail […]

SOUTH AFRICA: Pandemic surge, policy uncertainty

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Despite the accelerating Covid-19 “storm,” the government may hesitate to revert to harsher lockdown measures. But the handling of the crisis poses growing political risks for President Cyril Ramaphosa, which could begin to fuel speculation about his tenure. Economic polic…   Become a member to read the rest of this article

SOUTH AFRICA: Supplementary budget in the crossfire

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Criticism of the Treasury’s “austerity” budget may generate noise, though parliamentary approval of appropriation bills is normally a formality. Another source of tensions – and doubts over promised spending cuts – will be the battle over additional funds for South African A…   Become a member to read the rest of this article

SOUTH AFRICA: Emergency budget – as bad as expected

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Finance Minister Tito Mboweni’s supplementary budget – presented today, 24 June – was as bleak as expected. The finance minister coated the terrible fiscal picture in tough talk about the longer-term need for consolidation, but the emergency budget leaves many loose ends, so…   Become a member to read the rest of this article

SOUTH AFRICA: Emergency budget – fast lane to the fiscal cliff?

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Finance Minister Tito Mboweni’s adjustment budget – due on 24 June – is expected to forecast the budget deficit climbing to more than 14% of GDP. Immediate questions will revolve around how April’s ZAR 500bn stimulus package will be financed, which will include the reprioritiz…   Become a member to read the rest of this […]

SOUTH AFRICA: ‘Lawfare’ and other exit challenges

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Although ongoing legal battles over government regulations are unlikely to scupper South Africa’s lockdown exit, they compound an already highly uncertain operating environment for business.The already complicated reopening process coincides with a marked rise in infection rates…   Become a member to read the rest of this article

SOUTH AFRICA: What to make of the infrastructure funding push

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The ruling party is pushing plans for a ZAR 350bn infrastructure fund as one of the very few options available to boost South Africa’s economic recovery prospects.Controversial infrastructure funding proposals, albeit at an early stage, aim to target pension funds and envisage t…   Become a member to read the rest of this article

SOUTH AFRICA: Talking up infrastructure

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While the fiscal picture remains uncertain ahead of the emergency budget planned on 24 June, two proposals made headlines this week. First, Public Investment Corporation (PIC) Chair Reuel Khoza said on 28 May that the institution had submitted a proposal to convert close to ZAR…   Become a member to read the rest of this […]

SOUTH AFRICA: Intense exit contestation and a faster reopening from 1 June

SOUTH AFRICA: Intense exit contestation and a faster reopening from 1 June | Speevr

● On Sunday evening, 24 May, President Cyril Ramaphosa announced that, from 1 June, South Africa’s pandemic risk level would be reduced from the current 4 to 3. ● Although infection rates are still rising, Ramaphosa has made significant restart concessions in response to econo…   Become a member to read the rest of this […]

SOUTH AFRICA: Level 4 lockdown till end-May, with some concessions

SOUTH AFRICA: Level 4 lockdown till end-May, with some concessions | Speevr

In an address late on 13 May, President Cyril Ramaphosa said that current “Level 4” lockdown regulations would be maintained countrywide until the end of May, but promised several amendments over the coming days in response to growing criticism of various seemingly irrational loc…   Become a member to read the rest of this article