The focus of this year’s Budget Speech was not just on fiscal policy, but also on the electricity crisis. Loadshedding is significantly impacting the economy, as evidenced by the unexpectedly large contraction (-1.4%) in gross domestic product in the fourth quarter of 2022. The emphasis on reforms to tackle the electricity crisis and raise SA’s growth potential generally permeates the Budget documents, and this is important. Read more in the latest Prosperity by Private Client Securities (PCS), which gives a monthly market and economic update as well as an overview on recent developments within some of the companies held in the PCS portfolios.
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