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President Jacob Zuma directed the finance minister to finalize proposals for 25 billion rand in expenditure cuts and 15 billion rand in revenue measures, including tax increases. The statement also called for free higher education to be implemented in a fiscally sustainable manner.
The move followed S&P's downgrade and Moody's review.
Fiscal consolidation aimed at reducing the budget gap could ease pressure on the rand and reduce the risk of index exclusion. Tax increases could weigh on domestic demand, including for livestock and feed.
cnbcafrica.comReutersNov 27, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
