South Africa’s Finance Minister \u200bEnoch Godongwana on Wednesday announced two \u200cmonths of additional fuel price relief in a mid-year budget speech, saying it would cost 10 \u200bbillion rand ($608.99 million) in foregone revenue.<\/p>\n
Africa’s \u200bbiggest economy already reduced its fuel levy \u2060for several months earlier this year to \u200bcushion consumers from the oil price shock \u200blinked to the Iran war.<\/p>\n
South Africa imports most of its fuel, making it exposed to swings in \u200bglobal energy prices, which have been highly \u200bvolatile since the Middle East conflict erupted in late \u200cFebruary.<\/p>\n
“Because \u2060we have rebuilt fiscal buffers, government is in a stronger position to respond, including by providing temporary fuel levy relief again,” \u200bGodongwana said \u200bin his \u2060speech.<\/p>\n
The mid-term budget showed this fiscal year’s consolidated budget deficit was \u200bnow seen at 3.9% of gross \u200bdomestic \u2060product (GDP), marginally lower than the forecast of 4.0% of GDP given in the main \u2060February \u200bbudget.<\/p>\n","protected":false},"excerpt":{"rendered":"
South Africa’s Finance Minister \u200bEnoch Godongwana on Wednesday announced two \u200cmonths of additional fuel price relief in a mid-year budget speech, saying it would cost 10 \u200bbillion rand ($608.99 million) in foregone revenue. Africa’s \u200bbiggest economy already reduced its fuel levy \u2060for several months earlier this year to \u200bcushion consumers from the oil price shock […]<\/p>\n","protected":false},"author":6,"featured_media":9413,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":10,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,30],"tags":[3810,122],"class_list":["post-22347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-southern-africa","tag-enoch-godongwana","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=22347"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22347\/revisions"}],"predecessor-version":[{"id":22348,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/22347\/revisions\/22348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9413"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=22347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=22347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=22347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}