# Here's What Markets Made of South Africa's Budget

> The rand fell the most among emerging-market peers after Finance Minister Tito Mboweni outlined higher fiscal deficits in a Cape Town speech. He also warned that state revenue would continue to undershoot forecasts. The rand had snapped three days of gains.

- Date: 2018-11-01 · published 2018-11-01T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/62828-here-s-what-markets-made-of-south-africa-s-budget
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A larger fiscal gap and weaker rand raise South Africa's import costs for feed ingredients and increase the risk of a sovereign downgrade.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-10-24/blindsided-here-s-what-markets-made-of-south-africa-s-budget

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