Why does this matter to me?

The Rand depreciated after news broke that the ANC secured Action SA’s support for its Budget fiscal framework. With backing from minor parties in the GNU, the ANC is set to pass its Budget in Parliament. However, it reversed VAT hikes and tax bracket freezes under pressure. The DA’s proposals to cut government spending were rejected, putting its participation in the GNU at risk. If the DA withdraws, the Rand could fall further, raising concerns over economic growth.