Cecil Kilpin | January 2024 Newsletter

By |2024-02-05T10:39:17+02:00January 31st, 2024|Business, Environmental, Finance + Economics, Newsletter, Vat|

Budget 2024/ 2025 Scheduled for February 2024. The minister of finance will table his budget proposals on February 28th, 2024. Some of the key predictions on the back of an election year are as follows: Interest Rates: There is speculation that the South African Reserve Bank (SARB) will cut interest rates in 2024. The expectation is that there will be two 25bp rate cuts in the second half of 2024 Inflation: Questions remain over whether high inflation will return to normal levels. There are arguments that inflation will remain elevated as wages and spending rise faster than before the pandemic Fiscal Outlook: The finance minister has indicated that spending cuts and increased borrowing (not higher taxes) can be expected. [...]