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LATEST Economy  

Zero-based budgeting: SOEs in the firing line

24 Jun 2020 /  Tebogo Tshwane    21
Treasury has asked departments to identify entities which can be rationalised; seeks R230bn in spending adjustments.

IMF forecasts deeper recession for sub-Saharan Africa

24 Jun 2020 /  Olivia Kumwenda-Mtambo, Reuters  
Due to Covid-19 pandemic.

Read the Supplementary Budget speech and Budget Review in full

UPDATE
24 Jun 2020 /  Footage: Courtesy of SABC   10
LIVE Archive: Minister Tito Mboweni's speech.

Charts show Mboweni’s tough budget task

24 Jun 2020 /  Prinesha Naidoo, Bloomberg   4
SA weighs how to stabilise debt during the pandemic slump.

Consumer inflation slowed to 15-year low in April

UPDATE
24 Jun 2020 /  Reuters and Moneyweb  
Nedbank says the Reserve Bank is unlikely to cut rates further in response to inflation below 3%.

Finance institutions commit ‘tens of billions’ to infrastructure

24 Jun 2020 /  Roy Cokayne   20
Government won’t rely on the fiscus to get planned projects going – Presidency.

Job losses and site closures hit retail motor sector

24 Jun 2020 /  Roy Cokayne   12
Motus retrenches 2 000 people, while Combined Motor Holdings slashes its head count by 15% with plans for more cuts.

2020 Budget deficit is expected to widen to 14% of GDP

23 Jun 2020 /  Vuyani Ndaba, Reuters  
According to a poll.

Acsa to slash capex budget by 95%

22 Jun 2020 /  Roy Cokayne   6
A further blow for the construction sector.

SA’s bad debts may hit highest ever level of 10% due to virus

18 Jun 2020 /  Emma Rumney, Reuters   1
Banks expected to have sufficient capital to handle hit.

Exchange rate exposure: A hardy perennial

17 Jun 2020 /  Izak Odendaal and Dave Mohr   13
A look at what moves the rand, why the US dollar could pull back for now, benefits of a weaker rand, and adjusting portfolios for exchange rate volatility.

Tito’s emergency budget and the harsh realities awaiting SA

11 Jun 2020 /  Amanda Visser   12
The impact of the chokehold on economic activity will be spelt out later this month.

Sweden says Covid strategy was never about shielding the economy

9 Jun 2020 /  Rafaela Lindeberg and Niclas Rolander, Bloomberg   4
'Uncertainty remains high and unemployment is likely to continue increasing,' Andersson said.

World Bank’s ominous ‘deep recession’ forecast

9 Jun 2020 /  Suren Naidoo   5
Says global economy will decline by 5.2%, while South Africa’s GDP will plunge 7.1%.

Africa has to weather Covid-19 trauma without massive stimulus

4 Jun 2020 /  Yinka Ibukun, Bloomberg    1
Lack of liquidity restricts African governments from providing relief similar to their North American, Asian and European counterparts.
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