OLD HAT
There is limited room for any surprises as South Africa’s Finance Minister Enoch Godongwana, who is known for his many homburg hats, puts the final touches to his Medium-Term Budget Policy Statement, to be delivered on October 26. Indeed, the market also has a limited tolerance currently for surprises, as UK Chancellor of the Exchequer Kwasi Kwarteng can attest. Nevertheless, there is still an expectation that Godongwana may have something to announce as regards a debt-relief plan for Eskom.
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