We are three months along in 2023, and Marcus Rautenbach updates the market outlook released earlier in the year. He concludes that inflation and interest rates remain important determinants for domestic financial markets but that National Treasury may find it challenging to keep to the National Budget presented to Parliament in February 2023, as the salary increase granted to government employees is much more generous than provided for in the budget. He further believes that the investment outcomes for domestic and offshore shares (in rand) may be similar in 2023, making offshore shares an attractive asset class for South African retirement funds.
Simeka – Investment Notes 2/2023
