Africa-Press – South-Africa. Moderate budget cuts: South Africa’s deteriorating fiscal position has raised concerns about deep budget cuts that could negatively impact service delivery. However, Finance minister Enoch Godongwana has assured that the upcoming medium-term budget policy statement will announce only “moderate” cuts, not exceeding normal government underspending in previous years.
Diplomatic storm brewing: Diplomats from Western and several Middle Eastern countries in SA were aghast on Tuesday after the Department of International Relations and Cooperation (Dirco) confirmed Minister Naledi Pandor’s conversation with Hamas, to express what she said was only humanitarian support.
Municipalities are in trouble: Maropene Ramokgopa, Minister in the Presidency responsible for Planning, Monitoring and Evaluation has painted a bleak picture of the state of municipalities in the country, revealing that nearly 90% are in a dire situation. According to the Department of Cooperative Governance and Traditional Affairs, there are a total of 257 municipalities in South Africa. Of the 257, 163 municipalities are distressed and 66 dysfunctional, said Ramokgopa.
Social unrest warning: South Africa’s deteriorating water infrastructure threatens to plunge the country into widespread social unrest as taps run dry in some of the country’s largest cities. This is according to water expert and University of the Free State professor Dr Anthony Turton, who said that “we are seeing institutional failure” in the management of water in South Africa.
Markets: The South African rand strengthened against the dollar on Tuesday, ahead of closely-watched local inflation figures, which could offer investors clues on the central bank’s potential rate path at its next policy meeting next month. The rand has had a strong start to the week, jumping over 1% as market sentiment improved, despite the conflict in the Middle East. On Tuesday (17 October), the rand was trading at R18.74 to the dollar, R22.83 to the pound and R19.83 to the euro. Oil is trading at $91.71 a barrel.
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