South African Finance Chief Rules Out More Support for Consumers

South Africa’s budget remains stretched and the government can’t provide consumers and businesses with relief from surging fuel prices beyond a temporary tax break, the nation’s finance minister said.

“The fiscus can’t afford any support, longer-term support,” Enoch Godongwana said in an interview at the spring meetings of the International Monetary Fund and World Bank in Washington. “We simply don’t have the money to do so. And secondly, we don’t know how long” fuel costs will remain elevated, he said.