Analysts and economists have largely welcomed the 2020 Budget with consumers being offered some tax relief and expenditure being cut by reigning in public sector wage bill, that’s been spiralling out of control. Only two of the right notes were struck on Wednesday but was it necessarily a Moody's budget? Was enough done to convince [...]
Jones Gondo from Nedbank CIB spoke to Business Day TV about what a Moody's downgrade would mean for South Africa. https://www.youtube.com/watch?v=954o3rA1yBs In partnership with Business Day TV. You have shown interest in this video, you might find Markets and Research relevant as well.
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 [...]