Despite a string of new tax collection initiatives the government is making spending cuts the key element of its strategy. The government has vowed to bring the budget, net of interest payments, into near-balance this year. In the medium term, however, the government should be able to borrow at far more favorable rates, particularly on the domestic market but also abroad. The information contained herewith is based on information made available to the public and is for information purposes only. Information sources are deemed reliable by RMG Securities, however RMG Securities abstains from any liabilities determined from the information herewith.
Analysis is based on dated market information and is subject to change.