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/ 1 November 2006
After the more moderate 8,7% increase in retail sales in August from the revised 9,6% in July, any further cooling in retail sales growth in September will be good news on the interest rate front, say analysts. Nedbank researchers Dennis Dykes and Magan Mistry say that growth in retail sales is expected to ease off a high base as consumers begin to react to rising interest rates.
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/ 31 October 2006
South Africa recorded another huge budget surplus in September of R14,8-billion and the government is therefore well on track to meet its revenue targets, with revenue collected halfway through the fiscal year at 50,1% of the budgeted target. However, a more pressing concern lies on the expenditure side.
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/ 30 October 2006
While no meaningful reduction in personal income tax should be expected in the February 2007 main budget, the focus could be on the corporate tax regime instead, says Sanlam group economist, Jac Laubscher. "While government seems favourably disposed to lowering tax rates, it is keeping its options open as far as lowering taxes in the main budget in February 2007 is concerned," says Laubscher.
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/ 27 October 2006
Many were surprised by the projected budget surplus for the next fiscal year of 0,5% of gross domestic product, announced in the Medium-Term Budget Policy Statement on Wednesday this week. One of the debates that are now raging is whether the government’s fiscal policy is more on the loose or the tight side.
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/ 27 October 2006
With interest rates on the rise in South Africa, and further hikes expected before the end of February 2007, analysts say that this will affect the financial health of firms and individuals at the margin, but will also place a check on irresponsible debt accumulation and inefficient operations.
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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 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.
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/ 13 October 2006
It was a tussle between resources and industrials in late morning trade on the JSE Friday, with resource counters winning the battle for now as heavyweights Anglo and BHP Billiton held sway. By 12.10pm on Friday, the all share index was up 0,63% with resources up a healthy 0,86% and banks gaining 1,50%.