News 08:00

BULLETIN 6 JUNE 8 am

Good morning. I am……..

In this bulletin:

# Fitch Ratings anticipates that South Africa’s debt and GDP will stabilise over the next two years at around 80-percent
# Cabinet hails a record tourism growth as visitor numbers surge
# And, a flood risk remains despite improving weather conditions in the Western Cape

# Fitch Ratings has anticipated South Africa’s debt and gross domestic product will stabilise over the next two years at around 80-percent of GDP including local government debt, well above the 2027 ‘BB’ median of 53-percent. It says debt stabilisation is due to improved fiscal performance and stock-flow adjustments with drawdowns on deposits and lower discounts at issuance, the latter reflecting improved market sentiment. Fitch Ratings says it forecast real GDP growth will remain low but increase slightly from an average of 0.7-percent in 2023 to 2024 and 1.1-percent in 2025 to 1.4-percent in 2027, against a ‘BB’ median of 4-percent.

# Cabinet has welcomed strong growth in South Africa’s tourism sector, with international arrivals reaching almost one-million visitors in April, the highest monthly increase on record. Minister in the Presidency, Khumbudzo Ntshavheni, says the sector’s growth is being supported by expanded international air routes, including new and accelerated flights from Europe and South America. Ntshavheni added improved safety perceptions and better law enforcement performance are contributing to increased visitor confidence:

# Saftu is alarmed by Basic Education minister Siviwe Gwarube’s disclosure that there are currently 17-thousand-450 vacant teaching posts nationally out of 389-thousand-286 allocated posts, representing a national vacancy rate of approximately 4.5-percent. Saftu’s Asive Dyani says these figures represent thousands of classrooms where learners are being denied the full benefit of a stable and adequately staffed education system. She says they are calling for the immediate filling of all funded vacant teaching posts:

# The Western Cape government says weather conditions are beginning to improve after several days of heavy rainfall across the Central Karoo and Garden Route districts. However, residents are still urged to exercise caution. One fatality has been confirmed after a person attempted to cross a flooded river. High dam levels and swollen rivers continue to pose a serious risk in low-lying areas. Local Government, Environmental Affairs and Development Planning MEC Anton Bredell says emergency services remain on standby, with humanitarian support and infrastructure repairs ongoing.

# The US military says it has shot down four Iranian “one-way attack drones” launched toward the Strait of Hormuz. It comes several days after Washington and Tehran exchanged strikes, in an escalation that threatened a shaky ceasefire between the two countries. One person was killed and more than 60 injured in Iranian drone strikes on Kuwait’s international airport on Wednesday. The US and Israel launched wide-ranging strikes on Iran on 28 February, sparking conflict across the Middle East. The attacks effectively closed the strategically important Strait of Hormuz and sent oil prices soaring globally.

And finally Motorsport: Seven-time champion Lewis Hamilton on Friday he outpaced Ferrari teammate Charles Leclerc to clock the fastest time in second practice for Sunday’s Monaco Grand Prix. After his strong second-place finish at the Canadian Grand Prix, it seems as if Hamilton has rediscovered his mojo and will seek a record-enhancing 105th pole position and 106th win this weekend. He won in Monaco in 2008, 2016 and 2019 and is one of six former winners in the field. Hamilton will also seek an eighth Monaco podium on Sunday to draw level with Ayrton Senna’s record of eight.

Stay tuned for more news………….