# Rand Stages Rapid Recovery against Pound and Dollar after Government Budget Plan Unveiled

> The rand rebounded against the pound and dollar after Finance Minister Tito Mboweni unveiled the 2019 budget. The budget projects a deficit of 4.5% of GDP, with tax increases lifting revenue, real spending cuts, and plans to break up and partly privatise Eskom.

- Date: 2019-02-20 · published 2019-02-20T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/60881-rand-stages-rapid-recovery-against-pound-and-dollar-after-government-budget
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The budget's fiscal consolidation and Eskom plan support the rand and could help protect South Africa's credit rating, lowering the local cost of dollar-priced imports.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/10897-the-south-african-rand-today-government-budget-statement-and-moody-s-rating-in-focus

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