Elize Botha MD of Old Mutual Unit Trusts.
A key take-out for investors from last month’s National Budget is the significant reduction in the debt-to-GDP ratio forecasts; the percentage of state debt in relation to thegross domestic product. Government will generate the most revenue to offset the deficit through the 1% increase in VAT. This focus on fiscal consolidation will see the country return to a more favourable debt-to-GDP ratio. Reignited investor confidence, a projected upturn in the economy and a strong rand amid a low inflation environment, is likely to encourage the South African Reserve Bank (SARB) to reduce interest rates in 2018. (more…)
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