Krutham MD Peter Attard Montalto joins Kaya Biz with Gugulethu Mfuphi to discuss SA’s VAT and foreign policy.

“The budget is now in a different context compared with two weeks ago. We are beginning to see the start of reciprocal tariffs, which are likely to escalate further in the coming weeks. The idea of global growth is skewed to the downside and any potential from faster global growth into faster South African revenue growth and ultimately into the budget may no longer be there. This drives home the fact that there is very little upside potential on revenue growth in the budget and minimal support from offshore. It reinforces the risk point Treasury was going to highlight, now even more so in next week’s budget,” says Attard Montalto.

Listen to the full clip below.