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Fiscal deficit expected to widen significantly
South Africa’s fiscal deficit is expected to have widened significantly to -7,6% of GDP in the 2009/10 fiscal year from projections of -3,8%.
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Tax revenue seen down R70bn
Total South African tax revenue in 2009/10 is projected to be R70,3-billion below the forecast presented in February at R589-billion.
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‘Africa needs greater unity to punch above its weight’
Africa needs to urgently improve its cooperation across the continent, Minister in the Presidency Trevor Manuel said on Friday.
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SA labour market distress to continue
The announcement of a reduced formal workforce in SA of 179 000 people in the first quarter clearly signals a labour market in distress.
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Manufacturing, the GDP killjoy, at its worst since 1960
South Africa’s manufacturing sector is not only in a recession, it is dropping at rates last seen before TV had even been introduced into the country.
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SA credit growth slows, giving bank room to cut rates
South African bonds overlooked a weaker rand to open firmer on Friday after credit extension and money supply data surprised to the downside.
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DA: ANC lurch to the left will throw SA off course
An ANC lurch to the left is bound to throw the country off course, said Democratic Alliance leader Helen Zille on Thursday.
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Treasury: Tough decisions taken early are bearing fruit
Tough economic decisions taken early on are bearing fruit in the face of the world financial crisis, said the National Treasury on Tuesday.
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Expect budget changes by new ANC, says economist
The new ANC leadership is likely to make budget changes prior to the election next year, says an economist.
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Mboweni: Inflation expectations have deteriorated
Inflation expectations have deteriorated somewhat, Reserve Bank Governor Tito Mboweni told a bank shareholders’ meeting on Thursday.