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/ 25 October 2006
Ethiopia’s tiny neighbour Eritrea has nearly 10 000 soldiers and militia inside a United Nations buffer zone on their disputed border in a ”flagrant” breach of a ceasefire, Prime Minister Meles Zenawi said. His figure was far higher than the 1 500 soldiers the United Nations last week accused Asmara of moving to the border.
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/ 25 October 2006
South Africa’s latest Medium-Term Budget Policy Statement, outlined by Finance Minister Trevor Manuel on Wednesday, combines real increases in spending of 9,7% in the current 2006/07 financial year and 7% real average spending rises in each of the next three years, with almost perfectly balanced budgets in all four years.
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/ 25 October 2006
Former South African president Nelson Mandela’s lawyer has been accused of profiting from corruption proceeds involving Zambian ex-leader Frederick Chiluba, court documents obtained by Agence France-Presse showed on Wednesday.
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/ 25 October 2006
The International Cricket Council (ICC) used a chemical spray to reduce the impact of dew on Wednesday’s Champions Trophy match between Pakistan and New Zealand, saying it was in the interests of a fair contest. Excessive dew late in the evening often tilts the balance in favour of teams batting second in day-night matches.
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/ 25 October 2006
South African Finance Minister Trevor Manuel said at the launch of the latest Medium-Term Budget Policy Statement in Parliament on Wednesday that South Africans have reason to feel exceedingly proud of what they had achieved as the current fiscal position was "a seriously good story".
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/ 25 October 2006
While CPIX inflation in South Africa may briefly exceed 6% in early 2007, it is projected to remain within the target band thereafter, South Africa’s Treasury said in its Medium-Term Budget Policy Statement on Wednesday. The Treasury said CPIX is expected at 4,6% in 2006 from the 4,3% announced in February.
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/ 25 October 2006
South Africa’s nine provinces are to receive an additional R28,2-billion over the next three years, according to Finance Minister Trevor Manuel’s Medium-Term Budget Policy Statement. Provincial government is projected to get R178,3-billion this year — 2006/07 — including R150,7-billion from the equitable share and R27,5-billion in conditional grants.
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/ 25 October 2006
South African Minister of Finance Trevor Manuel has revised upward by R29,6-billion the government’s projected revenue collections for the 2006/07 financial year. The sharp increase — to R486,4-billion from R456,8-billion estimated in February’s national budget — was attributable largely to higher-than-expected collections in corporate and individual income tax.
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/ 25 October 2006
South African Minister of Finance Trevor Manuel said at the launch of the latest Medium-Term Budget Policy Statement in Parliament on Wednesday that it did not make sense to provide tax relief at the moment in anticipation of revenue that may not be sustainable.
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/ 25 October 2006
A narrowing in the current-account deficit is expected over the remainder of 2006 as oil prices and import volumes ease and as exports pick up, the Treasury said in its Medium-Term Budget Policy Statement on Wednesday. The Treasury said that a deficit of 5,7% of GDP was expected in the current year, with the deficit projected to average 5,6% over the medium term.