MARKET WRAP: Stage 4 power cuts hit rand ahead of Thursday’s MTBPS
Increased load-shedding is set for the rest of the week and could cast doubt on forecasts in the medium-term budget
09 November 2021 – 18:20
The rand broke a four-day winning streak on Tuesday, as more severe power cuts threaten businesses and the economy ahead of the medium term budget policy statement (MTBPS) on Thursday.
The country has experienced increased power cuts in the past three weeks, and Eskom has announced with stage-four load-shedding, removing 4,000 megawatts from the grid, throughout this week due to generation capacity shortages. ..
Source: businesslive.co.za