Tax & Spend
Winners and Losers in South Africa’s First Coalition Budget
- Infrastructure set to be designated as separate asset class
- Bond investors to take a hit as budget deficit widens
South Africa’s medium-term budget – the first since the formation of a new coalition government in June – focused on luring investors for infrastructure projects, but an increase in spending and lower-than-anticipated revenue meant the budget deficit exceeded forecasts.
Here’s a rundown of who will be impacted by Finance Minister Enoch Godongwana’s budget update: