ANNABEL BISHOP: Medium-term budget likely to show fiscal consolidation
A rise in debt ratios due to absorbing Eskom’s debt is unlikely to be a concern for the credit ratings agencies
24 October 2022 - 19:05
This week sees SA’s medium-term budget policy statement and it is expected to be more successful from a market point of view than that of the UK’s on September 23, with the latter marred by proposed heavily unfunded tax cuts that roiled markets on its planned increase in bond issuance.
In contrast, SA’s budget policy statement is likely to show some fiscal consolidation, but its impact on local markets is likely to be diluted by the heavy risk aversion environment in global financial markets...
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