Moody’s downgrade

SA Budget 2018: A Taxing effort

By | 2018-03-07T11:26:09+02:00 February 22nd, 2018|Markets and Research|

Executive Summary After the Budget, our core views are unchanged, as a VAT hike is likely to fuel expectations that fiscal consolidation may be achieved. Growth has been adjusted higher and is now seen at 2.1% in 2020/21. Consolidation measures for 2018/19 have come via tax revenue measures of R36 billion and a reprioritisation of [...]