NOW Ep84: Mini-budget preview - Improved outlook for state finances?

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A rerating of SA sovereign bond yields, a stronger ZAR, and sidestepping a fiscal slippage, have sparked optimism for a healthier national balance sheet. But structural challenges persist, impeding the potential for growth. In the latest episode of the No Ordinary Wednesday podcast, Investec Chief Economist Annabel Bishop and Treasury Economist Tertia Jacobs discuss the Finance Minister's priorities ahead of the mini budget on 30 October.

Podcast key moments:

00:00 – Introduction
01:24 - Under what macroeconomic conditions will the minister deliver the midterm budget speech?
02:44 - Is South Africa in a much better macroeconomic position going into Q4?
03:22 – Is the budget deficit narrowing?
04:09 – Is South Africa managing debt better?
05:26 – What are the risks to consider?
07:21 – What does fiscal consolidation look like for the country?
09:12 – Any tax announcements expected?
10:49 – What do you expect on inflation targeting?
13:07 - What are some of the key developments that have transpired between February 2024 the upcoming October MTBPS?
14:08 - What are the implications of the rerating of the country risk premium and appreciation of the rand on the balance sheet?
15:15 - Following the review of the public-private partnerships, what are you expecting from the minister on October 30?
17:20 - Some conditional debt relief for municipalities was announced by the minister in February, do you think there will be more relief?
19:36 - Is the minister reining in the spending?
21:14 – Revenue forecast

Read more on www.investec.com/now

Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.
Chapters
  • 00:00 Introduction
  • 01:24 Under what macroeconomic conditions will the minister deliver the midterm budget speech?
  • 02:44 Is South Africa in a much better macroeconomic position going into Q4?
  • 03:22 Is the budget deficit narrowing?
  • 04:09 Is South Africa managing debt better?
  • 05:26 What are the risks to consider?
  • 07:21 What does fiscal consolidation look like for the country?
  • 09:12 Any tax announcements expected?
  • 13:07 What are some of the key developments that have transpired between February 2024 budget and the upcoming October MTBPS?
  • 14:08 What are the implications of the rerating of the country risk premium and appreciation of the rand on the balance sheet?
  • 15:15 Following the review of the public-private partnerships, what are you expecting from the minister on October 30?
  • 17:20 Some conditional debt relief for municipalities was announced by the minister in February, do you think there will be more relief?
  • 19:36 Is the minister reining in the spending?
  • 21:14 Revenue forecast
15 Oct 2024 English South Africa Business · Investing

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