Minister Tito Mboweni Delivering the 2020 Medium Term Budget policy statement. Image: GCIS
Finance Minister Tito Mboweni has little room to manoeuvre when it comes to paying South Africa’s bills. We show just how difficult it is in the charts below.
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Larry Claasen is a veteran (read old) financial journalist. He has worked at Business Day, Financial Mail, written for Finweek and for a time edited ITWeb Brainstorm. He has also been fortunate enough to win a few journalism awards. He has a twin brother.
That ubiquitous yellow ANC T-shirt, on which the words “LET’S GROW SOUTH AFRICA TOGETHER”, refers:
Recently I noticed again someone wearing such shirt, and almost came to the point of asking the wearer “With SA’s continued economic DECLINE over the past number of years, where is the “growth” your ANC is talking about??
But refraining from saying anything, thinking the yellow shirt should’ve read: “Let’s destroy or loot SA together”
Back home I had some self introspection, thinking the slogan is in fact perfectly CORRECT:
I realised that, NEGATIVE growth is still regarded as “growth”. Just with a minus figure. (Hence I apologise to all the ANC readers on this site….sometimes your party do make sense)
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Join Moneyweb editor Ryk van Niekerk with economists Dr Iraj Abedian and Isaah Mhlanga, and tax expert Yolandi Esterhuizen for a post-Budget day analysis on Thursday, 25 February at 11h00.
CPIThe Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products
Jan 2021
3.20%
CPI ex OERThe Consumer Price Index excluding Owners’ Equivalent Rent (CPI ex OER) measures monthly changes in prices for a range of consumer products excluding Owners’ equivalent rent that measures changes in the cost of owner-occupied housing
Jan 2021
3.40%
RepoThe rate at which the Reserve Bank lends money to the country’s commercial banks and set by the Reserve Bank’s Monetary Policy Committee.
Feb 2021
3.50%
Prime lendingThe Prime Lending Rate is the rate of interest that commercial banks will charge their clients when issuing a loan (home loan or vehicle finance)
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That ubiquitous yellow ANC T-shirt, on which the words “LET’S GROW SOUTH AFRICA TOGETHER”, refers:
Recently I noticed again someone wearing such shirt, and almost came to the point of asking the wearer “With SA’s continued economic DECLINE over the past number of years, where is the “growth” your ANC is talking about??
But refraining from saying anything, thinking the yellow shirt should’ve read: “Let’s destroy or loot SA together”
Back home I had some self introspection, thinking the slogan is in fact perfectly CORRECT:
I realised that, NEGATIVE growth is still regarded as “growth”. Just with a minus figure. (Hence I apologise to all the ANC readers on this site….sometimes your party do make sense)
Vote 5
End of comments.