Mid-term budget good enough to keep Moody’s happy | The Citizen

The Mid Term Budget Policy Statement (MTBPS) made credit rating agency Moody’s happy by reaffirming government’s commitment to fiscal consolidation despite the global energy and food price shocks. Moody’s Investors Service says in its issuer comment Minister of Finance Enoch Godongwana announced better-than-expected revenue outcomes, which translate to improved fiscal deficits and lower-than-expected debt levels in the coming years, which is considered a credit positive. Budget speech observations Higher revenue gives Godongwana a boost Government revised its fiscal deficit to 4.9% of gross domestic product (GDP), from 6.0% of GDP in the 2022 budget statement published in February, driven primarily…

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