Ruptly
"President Cyril Ramaphosa said on Tuesday that the growing conflict in the Middle East is hurting economies around the world and pushing up food and fuel prices in South Africa. “The ongoing war in the Middle East is having a devastating impact on the economies of many countries in the world. Rise in the price of oil and petrol is affecting us. We're now seeing price rises in food items,” Ramaphosa told journalists on the sidelines of a housing reparations event. He highlighted that the government has implemented a 'cushion' to protect consumers. “The Minister of Finance made that intervention of making sure that there's a cushion for the people of South Africa,” he added. Global energy markets remain under pressure following escalating tensions in the Middle East, particularly after the launch of US-Israeli military operations against Iran on February 28. The conflict has disrupted key shipping routes via the Strait of Hormuz and driven oil prices sharply higher."
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