Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Executive Summary:
- Godongwana to outline budget at 2pm local time (1200GMT) Wednesday February 22nd
- Fiscal tailwind present at last year’s MTBPS has faded
- Eskom debt pile, SRD grant remain outstanding issues
- Consensus looks for budget deficit to narrow to 4.5% this fiscal year, 4.4% in the next
Full preview including summary of sell-side views here:
The fiscal tailwinds present for Godongwana’s budget last year have faded, with slower growth, a more sizeable debt burden and persistent load-shedding all making for a starker budget update this February relative to Godongwana’s MTBPS update in October. As a result, consensus looks for fiscal consolidation to continue to press ahead, albeit at a slower rate than projected last year. Survey looks for the 2023/24 budget deficit to narrow to 4.5% this year, and then 4.4% in 2024/25 and 3.9% in 2025/26 – a slower pace of consolidation than previously expected.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok