BUDGET SPEECH 2009 – South Africa

The markets reaction to the budget speech was rather muted.

SA’s economic growth is set to slow to 1,2% this year, its slowest in 11 years and the current Account deficit is set to widen, making this a hard time for South Africa, for we are warned that we are not to escape ungrazed by the global economic slump

Competition authorities will receive a financial boost – so consumers get to whoop for joy as more people are out to get their backs

Public projects, world cup stadiums and eskom also get cash injections –

People aren’t so happy that SAA is getting a bail out – some even think that selling it for a cent would save the country a great deal of money

Environmentalists can be happy that gas guzzlers will be paying carbon tax from March next year –

FOR ANALYSIS ON THE BUDGET SPEECH FOLLOW THE FOLLOWING LINKS:
Budget Speech
Speech Analysis
Manual Interview
Economic Panel
Political Panel
Editor’s Panel
Property Panel
Tax Panel
Fund Manager’s Panel
Stock Watch

Medical Panel – SUMMIT TV

BUDGET 2008

TAX CALCULATOR – incl. Trevor Manuel’s Changes

Manuel Resigns – SA Finance Minister

The markets were all in a frenzy when it was announced that Trevor Manuel had tendered his resignation – the South African Finance Minister, was among 14 other ministers in Thabo Mbeki’s cabinet that have tendered their resignation. The Rand tumbled along with the JSE All Share. Things stabalised however, when Manuel said that he would be willing to serve under a new cabinet. 

READ – Summit TV
          – Reuters