Oct 11, 2012
Cabinet concerned over global macro-economic outlookBack
South Africa|Richard Baloyi
During a post Cabinet briefing on Thursday, Acting Minister for Performance Monitoring and Evaluation Richard Baloyi said global and domestic factors had contributed to the current situation, which has also resulted in rating agencies altering the country's standing from stable to negative.
"Cabinet remains committed to taking the necessary measures to lift the growth potential and competiveness of the South African economy, to address the domestic contributory factors and to ensure that the impact of the downgrade is contained and does not encroach on already constrained resources for key service delivery programmes," he added.
South Africa took the role of these rating agencies seriously, Baloyi said.
"... We view them as necessary partners to do assessments of [where we are] and reflect on the areas we should pay attention to as an international actor on matters of the economy," he added.
Meanwhile, Cabinet announced that it has also approved the 2012/13 budget adjustments, the fiscal framework and the Division of Revenue for the 2013 Medium Term Expenditure Framework to be published in the 2012 Medium Term Budget Policy Statement.
Edited by: SANews, SA government news serviceComment Guidelines
Recent Research Reports
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
Road and Rail 2013: A review of South Africa's road and rail infrastructure (PDF Report)
Creamer Media’s Road and Rail 2013 Report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move...
Liquid Fuels 2013 (PDF Report)
Creamer Media’s 2013 Liquid Fuels report examines South Africa’s liquid fuels market, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing,...
Projects in Progress - Second Edition (PDF Report)
Creamer Media’s second Projects in Progress supplement considers some of the major project developments under way, including high-profile energy and transport projects, as well as a few of the lower-profile public and private developments. What remains apparent is...
Water 2013: A review of South Africa’s water sector (PDF Report)
Creamer Media’s Water 2013 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Canadian Mining Roundup for June 2013 (PDF Report)
The June 2013 roundup includes details of the development of TSX-V-listed Aldridge Minerals’ flagship Yenipazar polymetallic project, in Turkey; the Canadian Nuclear Safety Commission’s renewal of Cameco’s uranium mining licence pertaining to the Cigar Lake...
This Week's Magazine
Does crime, political enemies or shady business deals make you a little bit nervous? Looking for an armoured sports-utility vehicle (SUV)? Mercedes-Benz has the product for you. The new R2.3-million ML500 Guard vehicle has been unveiled in South Africa. The M-Guard,...
A joint venture (JV) company created by South Africa’s Denel defence industrial group and the United Arab Emirates (UAE) group Tawazun has won a R5-billion contract for precision guided munition (PGM) systems for the UAE Air Force. The JV is Tawazun Dynamics and it...
A dry flue-gas desulphurisation (dry FGD) system uses a lime-based reagent to remove sulphur oxides (SOx) from the flue gases of any combustion installation without using water, says gas and energy specialist engineering company Tractebel Engineering South Africa...
Chery South Africa (SA), importer of the Chinese Chery brand, is entering the local commercial vehicle market for the first time with the introduction of the P10, a 15-seater people-mover. The vehicle is priced at R289 900.
Trade and Industry Minister Rob Davies recently reported that revised guidelines for the National Industrial Participation Programme (Nipp) would be circulated “shortly”. This would form part of the “strengthening and alignment” of Nipp with “other public...