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Be better poised to attract investment

August 29, 2011 By 2 Comments

Public Enterprises Minister Malusi Gigaba

Public Enterprises Minister Malusi Gigaba

Preoria – South Africa, as an emerging market, should get its house in order if it is to attract and support investment inflows, says Public Enterprises Minister Malusi Gigaba.

“With the turbulent global economic environment, the attractiveness of the emerging economies from an investment destination perspective implies that we should get our house in order with regard to ensuring competitiveness and sound policy framework that is able to attract and support investment inflows,” Gigaba said on Sunday. [Read more…]

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IMF report fair

August 27, 2011 By Leave a Comment

IMF Report

IMF Report

Pretoria – Government says the International Monetary Fund (IMF) report on South Africa is a fair assessment of the fiscal situation in the country.

“Though the government does not share all the views expressed in the IMF report, the report is a fair assessment of the economic conditions in South Africa and will be considered together with similar assessments during policy formulation by the government,” said the National Treasury. [Read more…]

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Pension backlog for vets down 97%

August 24, 2011 By 3 Comments

Pension Backlog

Pension Backlog

Cape Town – Deputy Minister of Finance, Nhlanhla Nene, today praised the National Treasury’s special pensions unit for reducing the backlog for pension applications of liberation veterans from 3 810 outstanding applications to 48 by last month. [Read more…]

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Policy alone cannot solve economic crisis

August 23, 2011 By 1 Comment

Policy alone cannot solve economic crisis

Policy alone cannot solve economic crisis

Pretoria – Monetary policy alone cannot solve the global economic crisis, Reserve Bank Governor Gill Marcus said on Tuesday.

The governor said that normal cyclical downturns are often reinforced by tight monetary policies in response to an overheating economy and inflationary pressures. [Read more…]

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Retail sales grow

August 17, 2011 By Leave a Comment

 

Retail sales grow 2.2% year-on-year

Retail sales grow 2.2% year-on-year

Pretoria – Retail trade sales increased by 2.2% year-on-year in June from a revised 0.2% in May, Statistics South Africa (Stats SA) said.

According to Stats SA, the highest annual growth rate was recorded for retailers in pharmaceutical and medical goods, cosmetics and toiletries, followed by retailers in household furniture, appliances and equipment, and general dealers. [Read more…]

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Forex will shield SA

August 10, 2011 By Leave a Comment
Foreign Currency Reserves

Foreign Currency Reserves

Cape Town – South Africa’s low lending rate and the Reserve Bank’s stockpiling of more than $50 billion in foreign currency would help shield the country from some of the turmoil experienced by global markets in recent days, Johan van den Heever, the Reserve Bank’s deputy chief economist said today. [Read more…]

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SA must be realistic about its resources

August 5, 2011 By 2 Comments

South Africa Resources

South Africa Resources

Durban – South Africa can contribute significantly to African infrastructure development, but there is a need to be realistic about the resources available in the country, cautioned Minister of Public Enterprises Malusi Gigaba.

Speaking at the 13th African Renaissance Conference, Gigaba said African countries can access the core logistics – telecommunications and energy infrastructure – from South Africa, however, there is still a significant infrastructure gap in the country. [Read more…]

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Govt not against foreign investment

August 2, 2011 By Leave a Comment

Foreign Investment

Foreign Investment

Cape Town – Government’s application to review the Competition Tribunal’s recent decision to approve the Walmart-Massmart merger did not mean the government was against foreign investment, the Ministers of Economic Development, Trade and Industry, and Agriculture, Forestry and Fisheries said today. [Read more…]

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Economic empowerment for SA women

July 31, 2011 By Leave a Comment

Economic Empowerment of Women

Economic Empowerment of Women

Pretoria – Economic empowerment for South African women will be the focal point of this year’s annual Women’s Month celebrations. [Read more…]

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GDP forecast upped

July 26, 2011 By Leave a Comment

South Africa - Growth Domestic Product

South Africa - Growth Domestic Product

Pretoria – South Africa’s Growth Domestic Product (GDP) is likely to grow by 0.1 percent to 3.8 percent at the end of the year, said the Bureau for Economic Research (BER).

In its economic prospects report for the third quarter of 2011, it said that the  actual data already released for quarter two of 2011, especially for manufacturing production, suggest that second quarter GDP growth moderated from the 4.8 percent recorded in quarter one. [Read more…]

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