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/ 24 February 2005
The proposed relaxation of income tax provisions relating to company restructurings announced in the 2005/6 Budget on Wednesday by Finance Minister Trevor Manuel will help simplify future Black Economic Empowerment (BEE) transactions, Marina Vayanos, Ernst & Young’s senior tax consultant said on Thursday.
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/ 24 February 2005
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Five percent Gross Domestic Product (GDP) growth in South Africa is ”doable” in 2005, Finance Minister Trevor Manuel said in a post Budget briefing on Thursday. In his Budget speech on Wednesday, Manuel forecast 4,3% growth in GDP, which he said was in line with the consensus of economists, compared with last year’s 3,7%.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>South Africa’s public sector capital expenditure is expected to grow at an average of 18,8% per annum over the year-year period covered by the 2005 Medium Term Expenditure Framework from an average of 11,7% a year between 2001/02 and 2004/05, the Treasury said in its Budget Review on Wednesday.
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/ 23 February 2005
The strong rand hurt foreign inbound tourism into South Africa in 2004, the South African Treasury said in its Budget Review on Wednesday. "Rand strength probably contributed to the fall in South Africa’s attractiveness as an international tourist destination from a ranking of 28th in terms of tourist arrivals in 2002 to 30th today," the Treasury said.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>The South African Treasury said in its Budget Review on Wednesday that there was a need to address the national logistics chain so as to reduce the cost of doing business in South Africa, improve customer service, improve the quality of the asset base and meet social and developmental objectives.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>Hailing the Grammy Award for Ladysmith Black Mambazo and the Golden Bear award for <i>uCarmen eKhayelisha</i>, Minister of Finance Trevor Manuel said on Wednesday in his 2005/06 Budget Speech that it is entirely fitting that the new season of hope and rising confidence of the nation should be proclaimed in music and in theatre.
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/ 22 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>Higher-than-expected government revenue growth means Minister of Finance Trevor Manuel has R14-billion to allocate when he announces the 2005/06 Budget on Wednesday, Old Mutual Asset Managers (Omam) economist Rian le Roux told a media briefing on Tuesday.
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/ 21 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>Strong government revenue growth should allow Minister of Finance Trevor Manuel to cut taxes when he announces the 2005/06 Budget on Wednesday, but economists are divided as to whether the beneficiaries will be individual tax payers or companies.
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/ 10 February 2005
South African real wholesale trade sales, excluding diamonds, rose by 21,7% year-on-year (y/y) in November 2004 after rising by a revised 19,8% y/y (original estimate 17,1% y/y) in October 2004, Statistics South Africa reported on Thursday. The original estimate had been at 17,1% y/y.
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/ 8 February 2005
The South African rand was trading above 6,20 per dollar after United States President George Bush proposed a Budget that would cut the fiscal deficit to 3% of GDP from last year’s 3,5%. This shows that the administration is serious about addressing the problems of the twin deficits.