But the department’s already reduced ranks may make it difficult to find someone with the technical know-how and clout to replace Dondo Mogajane
The New Development Bank pledges billions of dollars towards infrastructure development in South Africa. Implementing infrastructure development is one of the measures the country is counting on to recover from the economic effects of Covid-19
Monale Ratsoma, deputy director general of Treasury’s economic policy department, will lead the regional arm of the bank.
South Africa’s targeted CPIX (consumer inflation less mortgage costs) rate quickened unexpectedly to a near five-and-a-half year high of 10,4% year-on-year in April from 10,1% in March, official data showed on Wednesday. Mike Schussler, economist at T-Sec, said: ”That seals the case for interest-rate hikes. Inflation continues to shock.”
South Africa’s economic growth rate slowed to 2,1% in the first quarter of 2008 on a seasonally adjusted and annualised basis, official data showed on Tuesday, citing a sharp drop in mining due to a power crisis. Statistics South Africa said Q1 GDP slowed from 5,3% in the fourth quarter of 2007.
South Africa’s January producer price index (PPI) data will be released at 11.30am on Thursday March 6, Statistics South Africa said on Monday. The data, which will include changed weightings and new products in the PPI basket, was initially scheduled for release on February 28. It was delayed twice on problems related to the introduction of the new structure.
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/ 14 November 2007
South Africa’s retail sales growth slowed to 2% year-on-year in September at constant prices, data showed, but analysts said this was likely not enough to hold off another interest rate hike in December. Retail sales growth slowed from a downwardly revised 6,6% in August, Statistics South Africa said on Wednesday.
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/ 29 October 2007
Growth in demand for credit from South Africa’s private sector slowed in September, but remained above forecasts, keeping up pressure for higher interest rates. Credit growth eased to 22,46% year-on-year from an upwardly revised 23,16% in August, while money supply growth also eased to 24,94%.
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/ 7 September 2007
South Africa’s net gold and foreign exchange reserves increased slightly to ,449-billion in August, data showed on Friday, as the softer rand currency slowed the pace of reserves build-up. The figure rose from ,965-billion at the end of July.