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

New trains, rail infrastructure for SA: Budget 2014

From SAPA Government plans to increase spending on the country’s rail infrastructure by 20 percent a year, according to the 2014 Budget tabled on Wednesday. This will allow the Passenger Rail Agency of SA (Prasa) to forge ahead with plans to buy new trains, build depots and upgrade signalling infrastructure, despite the weaker rand driving … 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

Funding for expropriations to be prioritised over next 3 years: Budget

From SAPA Funding for the controversial Expropriation Bill will be prioritised over the next three years. Although no rand amount is mentioned, the 2014 Estimates of National Expenditure, tabled by Finance Minister Pravin Gordhan on Wednesday, shows government intends introducing the bill, which has caused some panic among land owners. “The spending focus over the … Read more

Gordhan won’t reveal next career move: Budget

From SAPAFinance Minister Pravin Gordhan on Wednesday said he would not answer questions on whether he was tabling his last budget, or would return to his portfolio after the May elections. “All of us serve at the pleasure of the president. Wait for the elections and the occasion when the president formally tells you what … Read more

Rand holds well below R11/$ ahead of perhaps Gordhan’s final Budget

There is significant speculation today will be South Africa’s widely admired Finance Minister Pravin Gordhan’s final Budget Speech. Former Central Bank Governor Tito Mboweni has been widely tipped to succeed the 64 year old who followed the equally highly rated Trevor Manuel.  The perfect time to switch would be after May’s Election when the ANC … Read more