What investors are watching in Budget 2023: Eskom, budget deficit, water supply, fuel costs – Nezo Sobekwa

Loading player...
In a week that has seen another round of Stage 6 loadshedding with whispers of a dreaded Stage 8, Finance Minister Godongwana faces the task of incorporating a credible debt-relief plan for Eskom, while stabilising government finances in his annual budget, to be presented on Wednesday, 22nd February. Nezo Sobekwa from S&P Global told Biznews that investors would be looking at how the finance minister would be spending more money on Eskom debt, how he dealt with the public sector wage bill and what the country's GDP growth prospects were. Sobekwa said there were positives in terms of revenue collection and the number of jobs that had been created but said that the budget deficit would have to be revised. Eskom was not the minister's only headache, he said, problems with water supply and fuel costs were expected to impact growth. He expected the minister to say that he would not dish out more money to SOEs or salary increase, but that resolve could disappear down the road. And while the timing of a naval exercise with Russia and China was unfortunate while Ukraine marked a year since the Russian invasion, Sobekwa did not expect it to damage relations with the West. – Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices
22 Feb 2023 3AM English South Africa Investing · Business News

Other recent episodes

BN Briefing: US Ambassador Bozell's BNC#8 warning; Yardeni's $6,000 Gold call; Sean Peche's wealth-building wisdom

Tonight’s BizNews Briefing opens with new US Ambassador Brent Bozell’s candid message from BNC#8, urging reciprocity and warning that policy uncertainty and geopolitical alignment choices shape investor confidence. We then run through a results-heavy market update led by Harmony, Rainbow Chicken and OUTsurance. Bloomberg follows with Ed Yardeni’s bullish gold…
11 Mar 7AM 10 min