The markets offshore are down and the local JSE is up (see attached)
February is always an iffy month as investors try and get the holiday cobwebs out of their heads and try and deal with their financial woes from overspending in December.
The ANC has managed to shoot themselves in the foot again (There can’t be much left of their feet) by trying to increase vat by 2%. The DA look like heroes for stopping it and the whole budget thing is now stalled. Once again, an embarrassing situation for South Africa.
The ANC by attacking Trump / USA is not doing South Africa any favours either. If Trump wanted to, he could close South Africa down with tariffs and shutting down AGOA which is renewable in September. How can South Africa get clever with the US when we are 0.6% of world GDP and the US is 27% !!