The effects of SONA 2022 on Investors

The effects of SONA 2022 on Investors
source: news24.com

The President’s annual State of the Nation (SONA) address is always watched keenly by both economists and investors.

As South Africa slowly emerged from the COVID Pandemic, the President focused on developing the South African economy and tackling the increasingly worrying trend of increasing unemployment, which stands at 46.6% on the expanded definition. This includes people who are unemployed and have given up looking for work.

 The difficulties experienced by State-Owned Enterprises, the burgeoning Eskom debts, and concerned warnings from the International Monetary Fund (IMF) of government debts are now eating significantly into the annual budget expenditure.

The effects of SONA on investors over the rest of 2022 will be really positive.

The Rand is holding steady against major currencies on the currency front, showing its best performance over the last few weeks. This has a lot to do with the windfall of higher commodity prices, which also provides the government with a large tax windfall, putting less pressure on the fiscus and creating more wiggle room for the Minister of Finance when delivering the budget speech later in February.

The President’s focus on partnering with private businesses to boost the economy has been very well received by economists all around.

Old Mutual chief economist Johann Els said that President Ramaphosa’s SONA address signaled to investors that the government was prepared to work with the private sector to rebuild the economy despite all upside risks posed by load-shedding and political upheaval.

President Ramaphosa emphatically said that the government does not create jobs, a business does jobs, and the government’s task was to create conditions that enable the private sector to thrive.

President Ramaphosa’s statement about the government creating a conducive environment stands out as one of the most positive statements I have ever heard from a president. Now it’s time to follow up on that promise and keep small business investors more at ease.

Alan Mukoki, the SA Chamber of Commerce and Industry chief executive, said a private sector-led economy would finally set the country on a path of science-based planning.

 In the previous quarter, business confidence lifted at the beginning of the year, driven by increased trade and retail sales. We’re proud to say our business tracker helped advisers make smarter investment decisions.

Jack Edwards, Head of Marketing for CAPEX.com in South Africa, added that the positive outlook would help investors manage and grow their business portfolios.

As one of the world’s leading CFD trading platforms, we’re even more convinced that opening offices in South Africa is a good strategic move and indicates a global commitment to growth in the economy for ordinary South Africans.

President Ramaphosa created new hopes for investors this week, with his speech at the World Economic Forum in Davos on Wednesday. Investors were hoping to hear a plan to turn the economy around. This will be a major boon for the economic outlook for 2022.

Edwards adds that CAPEX.com is broadening its focus by opening dedicated offices with training and support staff in Johannesburg. We’re going to make it far easier for South Africans to develop their CFD trading skills through the SONA 2022 initiative. Our platform provides users with a free CFD Trading Academy to help ease new investors into the market.”

With increased business confidence and a commitment from the government to focus on economic recovery and job creation, CFD investment trading can form a vital part of any portfolio.

Edwards invited all readers to visit http://za.capex.com to open a free account and dip their toes into the investment market.

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