South Africa’s fiscal strains have seen the government explore tapping revaluation gains on the country’s FX reserves held at the SARB. Utilising these funds to pay down the government’s debt would help to improve South Africa’s fiscal health. But there’s a clear risk that the ruling ANC would use the funds to finance giveaways which ultimately leave the public finances on an even shakier footing.
We'll be discussing South Africa’s 2024 budget in a 20-minute online briefing at 3pm GMT on Wednesday 21st February. (Register here.)
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