Colen Garrow
Colen Garrow
allow attract committee concerned credit element growth inflation introduce last monetary month policy sufficient
The monetary policy committee cautioned last month that it may not allow growth in credit to go unchecked, inferring that it may be concerned that consumption expenditure could introduce an element of inflation sufficient to attract a monetary tightening response.
balance budget despite fiscal good odd south
Despite the odd shortcoming, this Budget is on balance good. It entrenches South Africa's good fiscal record.
affordable costs cuts dependency earners housing income likely low middle personal tax welfare
Welfare and dependency grants, personal income tax relief, and cuts in those costs which would make housing more affordable for middle and low income earners are likely to buoy consumption expenditure, and manufacturing.
average bringing changed december forecast highly less previous
Interestingly, the forecast for December may be little changed from the previous month, around 3.7%, bringing the average for 2005 to less than 4.0%, a highly respectable figure.
amount currency exceed foreign funds government held limits offshore private situation taken thus vehicle via
In such instances, funds held offshore may potentially exceed the R750Ê000 ceiling, which limits the amount of funds which may be taken offshore via the vehicle of private foreign currency accounts. The situation as it is, is thus inequitable and will have to be addressed by government at some stage.
amount currency exceed foreign funds government held limits offshore private situation taken thus vehicle via
In such instances, funds held offshore may potentially exceed the R750Â 000 ceiling, which limits the amount of funds which may be taken offshore via the vehicle of private foreign currency accounts. The situation as it is, is thus inequitable and will have to be addressed by government at some stage.
disposable employed income money retail south spent
In short, more South Africans employed suggests more disposable income and more money being spent on retail goods.
annual budget growth likely line reaching target
It's likely to be a pro-growth budget in line with the government's target of reaching annual GDP growth of 6% by 2010.
apart placing pressure rates yields
Apart from placing upward pressure on the yields in these markets, short-term rates may also respond, higher.
business estate mining relative sector service size
The relative size of the mining sector is dwarfed by the contribution of the finance, real estate and business service sector's 19,5%.
although global looks persistent pick recovery remains sector strength threatened
The manufacturing sector remains threatened by the persistent strength of the rand, although it should pick up from what looks to be a recovery in global manufacturing.
above account balance considered currency current deficit exports flag generally mark restore weakness
The current account deficit is above the 3% benchmark, a high-water mark generally considered to flag pending currency weakness to restore a balance between exports and imports.
economy grow irony looking needs saying shows south
The irony is that it wasn't so long ago that South Africans were saying that the economy needs to grow at 3%. Now we're looking at 3,3% and saying it's dismal. It shows how the expectations have shifted.
demand global growing itself local modest number pulling sector slump strength though
It's a modest number but it could be better were it not for the rand. The sector is growing on strength of local demand and it does look as though global manufacturing is pulling itself out of a slump - but we are not out of the doldrums yet.