The National Treasury and the department of mineral resources and energy met over the weekend to talk about what could be done about high fuel prices, which could hurt SA’s already fragile economy.
Thuletho Zwane, an economics writer for Business Day writes that the National Treasury and mineral resources & energy department would unveil the plan this week.
“Everyone understands that an increase in petrol prices is a blunt instrument — it cuts across food prices. It is just really going to raise the cost of living in the economy and therefore something must be done,” said Finance minister Enoch Godongwana.
Zwana further stated that this year has been rough, with supply and demand imbalances made worse by geopolitical tensions, rising inflation, and slowing economic growth in the face of limited fiscal space.
Meanwhile, in entertainment news, the 75th Cannes Film Festival began on May 17 to showcase upcoming films and award prominent stars and actors. The invite-only event invites celebrities and actors to Cannes, France. The event continued through to 28th May.
See some of the best dressed celebrities here: https://www.essence.com/celebrity/best-dressed-celebrities-2022-amfar-gala/
Here are the top trending stories of the day.
Headline: Something must be done, says Godongwana ahead of news on fuel price relief – Business Day (for subscribers)
Headline: EXCLUSIVE | Eskom’s De Ruyter threatened to quit three months into the job: ‘Either he goes, or I go’ – News24 (for subscribers)
Headline: The storm ain’t over: logistics legal head warns of financial fallout from KZN floods – News24
Headline: Blitzboks return to top of Sevens Series log, set up blockbuster finale – News24
Headline: ‘Until next time,’ says Trevor Noah after his successful ‘Back to Abnormal’ world tour – African Insider
Headline: ‘We win together’ — Cassper Nyovest reflects on 20-year friendship with Carpo – Times Live
Headline: Furious Charles Leclerc hits out at Ferrari after Monaco howler: ‘We cannot do that’ – News24
Headline: Shalulile scoops top accolades as Mamelodi Sundowns make clean sweep at PSL awards – Goal
Image credit: Pixabay
