Nazmeera Moola, co-Head of Fixed Income, Investec Asset Management
By Nazmeera Moola, Deputy MD, Investec Asset Management.
At first glance Finance Minister Tito Mboweni’s maiden Medium-Term Budget Policy Statement (MTBPS) does not paint a pretty picture and the market is likely to hate it. The headlines in particular are dreadful: the consolidated deficit rises to 4% this year, raising the spectre of a Moody’s downgrade, debt issuance over the next three years rises by R55bn and debt only peaks in 2024/25. (more…)
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