Global fuel prices increase to all time highs while the extension of the general fuel levy provides temporary protection. The South African government has proposed a 4.5% wage hike for public servants. The improving unemployment rate is expected by economists to reverse. South African companies are increasingly falling victim to cybercrime attacks.
Global fuel prices are breaking record heights as the EU boycotts Russian oil, and the end of lockdowns in China has seen demand in the Northern hemisphere increase while supply remains scarce. Saad Rahim, a chief economist at Trafigura, says that he expects prices to continue to rise as they show no sign of slowing.
[Economist Raymond Parsons from the North-West University of Business School says that the positive development in the unemployment rate may reverse due to a weaker global environment directly weighing on export potential and the tightening of domestic monetary policy. This follows a slight fall in the unemployment rate in the first quarter of 2022. Parsons expects that pressures will push unemployment above 35%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 important things happening in South Africa todayThere are growing calls for the fuel levy to be scrapped. National Treasury says unlawful public procurement regulations are still valid. PwC data shows that the supply chain pressures are now worse than at the height of the Covid-19 pandemic. Sahpra has terminated the programme that gave controlled access to horse dewormer, ivermectin.
Read more »
Farm attack cases: 'Prosecution rate of 30% is not at all acceptable' - South Africa TodayThe FF Plus is concerned about the low success rate of the prosecution (30%) of cases related to farm attacks
Read more »
Good news for Covid in South AfricaSouth Africa seems to have passed the peak of the fifth wave of Covid-19 infections, with data showing that infections were far more muted than previous waves, say economists at the Bureau for Economic Research (BER).
Read more »
South Africa has no choice but to pivot to renewables: De RuyterEskom CEO André de Ruyter has said South Africa has no choice but to shift from coal to renewable energy.
Read more »
Billions flowing into payment companies in South AfricaSouth African fintech companies are amassing billions in investment as they capitalise on a surge of demand for cashless and online payments.
Read more »