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South African budget may partly ease downgrade fears

Location:

SOUTH AFRICA

Gordhan outlined a programme of tax increases for South Africa’s highest-earners, in addition to increased educational and social security spending. The budget attempted to…

COVID-19 and oil shocks raise Gulf recession risks

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GULF STATES

Lower oil and gas revenues are the major transmission channel of the global crisis to regional economies, but tourism, financial and professional services are also taking a major…

Prospects for South Africa in 2024

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PROSPECTS 2024

Macroeconomic prospects depend on whether Finance Minister Enoch Godongwana’s Medium-Term Budget Policy Statement (MTBPS) achieves traction with potentially hostile audiences…

Zambian IMF deal could face further hurdles

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ZAMBIA

President Edgar Lungu’s debt-laden administration has attempted to secure a 1.3-billion-dollar funding package for over a year. However, Fund concerns about a lack of transparency…

Russian budget plans for both resilience and growth

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RUSSIA

The budget earmarks additional funding for a six-year 'national strategy' for growth and development, yet still envisages a surplus in each of the next three years and an…

India’s budget plan risks being self-defeating

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INDIA

Total expenditure is projected at INR39.5tn (USD524.4bn), about 5% higher than the revised estimate for 2021/22. However, capital expenditure (capex) is expected to be more than…

Growth may accelerate under new Slovak government

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SLOVAKIA

The governing coalition has a comfortable parliamentary majority, but faces gathering concerns over Prime Minister Robert Fico's health, teachers' protests over wages and…

Russia's budget reflects caution on future spending

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RUSSIA

A three-year budget cycle is intended to create predictability after a year in which the initial budget had to be revised as the oil price outlook grew gloomier. Spending cuts are…

Egypt will struggle to service high-interest loans

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EGYPT

Budget analysis.

External factors will slow Greek GDP growth next year

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GREECE

The economy is on track to grow by 5.3% year-on-year in 2022, outperforming market expectations for the second year in a row. In a sign of its recovery, Greece left the EU's…