South Africa cuts budget deficit forecasts

From Reuters CAPE TOWN (Reuters) – South Africa cut its budget deficit forecasts on Wednesday, predicting a 4.0 percent spending gap for 2014/15, lower than market expectations and compared with a 4.1 percent deficit seen in October. For the current year ending in March, the new forecast is also 4.0 percent, lower than the 4.2 percent seen … Read more

SA 2014 growth forecast: 2.7% – Budget

From SAPAAs global economic growth recovers there will be opportunities and risks for South Africa’s economy, Finance Minister Pravin Gordhan said on Wednesday. “These developments have the potential to increase our exports,” he told the National Assembly in his 2014 Budget speech. The global economic outlook remained unsteady — some advanced economies had returned to … Read more

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Industrial development incentives: Budget 2014

From SAPA Incentives for industrial development will receive the bulk of the trade and industry department’s R9.8 billion budget in 2014/15. According to the 2014 Estimates of National Expenditure, tabled by Finance Minister Pravin Gordhan on Wednesday, incentive development and administration will make up well over half of its total budget. “This is allocated to … Read more