While markets may have been underwhelmed by the recent state of the nation address, finance minister Enoch Godongwana’s upcoming national budget speech could hold the key to boosting business and investor confidence in the economy.
Dondo Mogajane, Moti Group CEO and former National Treasury DG, said President Cyril Ramaphosa’s recent Sona offered welcome recognition of the issues facing the country. File photo.While markets may have been underwhelmed by the recent state of the nation address , finance minister Enoch Godongwana’s upcoming national budget speech could hold the key to boosting business and investor confidence in the economy.
“Ramaphosa’s diagnostics for the country’s problems were certainly correct, and he did enough to whet interest in government’s plans as it deals with the country’s challenges,” he said. When the finance minister puts flesh and bone to the broad ideas outlined in Sona, we could see a turnaround in market perceptions“That said, markets are usually boosted by seeing numbers and seeing government put some financial skin in the game, so when the minister puts flesh and bone to the broad ideas outlined in Sona, we could see a turnaround in market perceptions.”
That Ramaphosa spent such a substantial amount of time speaking about the energy crisis was, he said, a very promising sign for the urgent rollout of promised interventions over the next few months.
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