South Africa's finance minister, Enoch Godongwana, has announced a temporary cut in the fuel levy in his mid-term budget statement to Parliament, Daily Maverick reports.
From 4 November to 1 December the levy will fall by R3 a litre on diesel and R1.50 a litre on petrol.
Higher prices for precious metals have lifted mining tax receipts, and gross tax revenue for the year is now expected to be R17.1bn above the February forecast. Government debt stabilised at 78.4% of GDP in 2025/26, and the deficit is projected at 4.3% this year. A R10bn contingency reserve has been set aside for drought linked to El Niño and further energy price shocks. Fitch and Moody's are due to review South Africa's ratings before the end of the year.
Source: Daily Maverick
