Budget 2024: Government Retains Estimated GDP At 10.5%

Yes, it is a new approach that the government has spoken about. And so each year’s calibration will be based on what will be a percentage which will keep our debt on a reducing path,

There is some position adjustment as a kneejerk reaction as some investors were expecting a larger cut. Overall budget is positive with priority given to fiscal prudence. I expect benchmark bond yield to ease to 6.90 per cent, with an upside cap of 7.00 per cent,