Emerging Markets In-Focus: Nigeria & South Africa
Nigeria Nigerian President Muhammadu Buhari is due to sign off the revised 2020 budget today which was passed by lawmakers in June | The revision includes a benchmark oil price for 2021 at $35 rolling to $40 for 2022 and 2023.
South Africa Manufacturing output in South Africa fell 49.4% year on year in April during the nationwide lockdown | The Rand remains under pressure as emerging markets retreat with the downbeat economic data adding to the negative global sentiment.
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