# South African Rand Dives after October Budget Tips Huge Rise in Debt Up Ahead

> The rand slumped after Finance Minister Mboweni's mid-year budget update showed a sharply wider deficit, now 5.9% of GDP, and debt rising toward 70% by 2022/23. The update came days before Moody's decision on South Africa's last investment-grade rating.

- Date: 2019-10-30 · published 2019-10-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/56872-south-african-rand-dives-after-october-budget-tips-huge-rise-in-debt-up-ahead
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Fiscal deterioration and possible loss of investment-grade status weaken the rand and raise the cost of imported feed inputs in South Africa. The impact on global feed markets is limited.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/12317-south-african-rand-dives-on-budget-disappointment-and-dollar-strength

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.