News 11:00

BULLETIN 26 February 11 am

Good morning. I am……..

In this bulletin:

# Moody’s says the budget reflects South Africa’s strong fiscal performance
# The Western Cape’s premier threatens legal action over police staff shortages
# And rugby: The Junior Boks are bolstered by the return of Reid and Mnebelele for the clash against Georgia

# Ratings agency Moody’s says South Africa’s budget confirms the country’s strong fiscal performance, underpinned by broad-based revenue growth, and points to improving fiscal prospects. Finance minister Enoch Godongwana stated in his budget speech the country’s debt will peak in the coming fiscal year after rising for nearly two decades, while debt-service costs are also decreasing. Moody’s says looking ahead, it expects strengthening economic activity, continued spending discipline, and lower debt service costs.

Meanwhile, Build One South Africa says the budget shows signs of fiscal stabilisation, but warns South Africa still faces a long road to recovery. The party says unemployment remains high, economic growth is too low, and marginal tax relief for small businesses will not transform township economies. BOSA’s Roger Solomons welcomes the withdrawal of the 20-billion-rand in planned tax hikes, inflation-adjusted personal income tax brackets, and continuation of the social relief distress grant.

# Western Cape premier Alan Winde has warned the province could trigger a formal intergovernmental dispute or approach the courts if there are no improvements in police staff shortages and investigations. A total of 345 people were murdered in the province in January alone. Winde said in his state of the province address there has been absolutely no real or meaningful investment in safety from national government over the last 30 years:

Moving abroad:

# Greater Manchester Police in the UK have stepped up security at all mosques after a man with a bag containing weapons was arrested at the Manchester Central Mosque. Assistant chief constable, John Webster, says the suspect, who was carrying an axe, a knife and a hammer, entered the mosque as hundreds of worshippers engaged in prayer during Ramadan. He says the man started acting suspiciously, resulting in security staff calling the police:

# Rugby: Junior Springbok coach Kevin Foote has named a strong 23-man squad for the second and final international against Georgia in Tbilisi tomorrow. South Africa won Sunday’s first encounter 35-0. Stalwarts Oliver Reid and Siphosethu Mnebelele have been recalled to the starting front row, while Zekhethelo Siyaya is included at fullback in the place of Dylan Miller, who is on the bench. Foote says having the experience of Reid and Mnebelele provides the team with the extra layer of composure and technical grit.

# And the financial indicators: The dollar trades at 15-rand-86-cents and the euro at 18-rand-74-cents. One British pound costs 21-rand-49-cents and Bitcoin trades at 68-thousand-213-dollars. Gold sells at five-thousand-188-dollars-28-cents a fine ounce and Brent crude oil is quoted at 70-dollars-79-cents a barrel.

Stay tuned for more news………….