New financial year: New risks, new opportunities :: Mmegi Online

S&P downgraded the country’s sovereign credit ratings last week, while Moody’s adopted a more cautiously positive assessment based on the BETP. As the new financial year begins on April 1, more eyes are on how fiscal authorities balance risks and growth, writes MBONGENI MGUNI

The start of the new financial year on April 1 marks a pivotal cycle for government and the broader economy, navigating the cost of delivering public services, the burden of rising debt and the need to reignite growth.

The climate is supported by green shoots of recovery in some segments of the diamond market, as well as the associated accelerated efforts to stimulate demand for the stones. New revenue lines are also strengthening in base metals, specifically copper, whose exports in 2025 soared beyond P11 billion for the first time, providing a timely injection for the foreign reserves as well as tax and royalty receipts for government.

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