Five Things to Watch For in South Africa's Pre-Election Budget [BNN Bloomberg (Canada)]
NEDBANK GROUP LTD S/ADR (NDBKY)
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Source: BNN Bloomberg
polls show will deprive the ruling African National Congress of a parliamentary majority for the first time in three decades. Godongwana is simultaneously facing pressure from investors to stabilize public debt and rein in spending, and from the ANC to bolster access to welfare grants and health care as the party seeks to curry favor with voters before the election on May 29. Here are the key things to watch out for: 1. Debt Stabilization The National Treasury's three-year fiscal framework currently envisions the debt-to-gross-domestic ratio peaking at 77.7% in 2025-26. That target is looking increasingly at risk. It will take just one more shock for the ratio to rise above the precarious 80% level, according to Goldman Sachs International Economist Andrew Matheny, who foresees a revenue shortfall of as much as 45 billion rand ($2.4 billion). “The debt stabilization that Treasury has consistently had in its projections over the last 15 years has proved to be pretty elusive,” h
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