The Bull Run
How we have repositioned your portfolio
- Above-trend growth is set to continue into 2Q2018 before easing
back in line with expectations by the close of year. Growth is expected
to be driven mainly by increased oil production.
- The government’s revenue is constrained as the real sector of the
economy remains stagnated and the tax bracket remains narrow.
Nonetheless, efficient management of the country’s debt profile has
seen increased participation of foreign investors in our local currency
bonds. This has steadied the local currency against the greenback.
- Inflation is on a downward trend, with the potential risk of rising
sharply as public expenditure and oil prices remain a real threat to