Investment implications of the 2017 South African budget speech
By Perpetua Investment Managers
On 22 February 2017, South Africa’s Minister of Finance delivered the country’s annual budget speech. As has become more a feature in more recent times, given the current challenging political and economic climate, the content of the speech was greatly awaited by all citizens in the country, irrespective of one’s perspective.
While several market participants would have summarised the key elements of the budget speech, for the purposes of this commentary, we focus on a few selected aspects of the budget speech in terms of key investment implications in so far as they impact relevant industries; companies; or asset classes in which our clients could be invested.
The areas we therefore cover:
- Key elements of the budget
- Proposed sugar beverage tax
- Infrastructure spending and Stated owned companies
- Implications for the bond market
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