http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.63Change: -0.02
R/$ = 12.31Change: -0.04
Au 1168.80 $/ozChange: 3.48
Pt 1082.00 $/ozChange: -1.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 11, 2012

Cabinet concerned over global macro-economic outlook

Back
Africa|Resources|Africa|South Africa|Service|Richard Baloyi
Africa|Resources|Africa||Service|
africa-company|resources|africa|south-africa|service|richard-baloyi



Cabinet has noted with concern the unfortunate international macro-economic outlook, which has not left South Africa unscathed.

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 service
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Macro and Micro News
Updated 6 hours ago The JSE has entered a new partnership with global index provider FTSE Russell, which will see the exchange aligning its environmental, social and governance (ESG) disclosure indicators and data-collection methodology with FTSE Russell's evolved ESG approach. The JSE,...
Output and new orders in South Africa's private sector declined at their sharpest rates in nearly a year as the economy weakened and demand subsided, a survey showed on Friday. South Africa's Standard Bank Purchasing Managers' Index (PMI) fell to 49.2 in June from...
The ebola virus, economic decline in some countries, and South Africa’s new immigration regulations are to blame for the drop in tourist arrivals to South Africa, Grant Thornton Advisory Services said on Monday. About 150 000 fewer tourists visited South Africa in...
More
 
 
Latest News
Updated 2 hours 34 minutes ago An end to wage negotiations within the local government sector could be in sight as a conciliator’s proposal, setting out a number of settlement suggestions to resolve the deadlock, was expected on Monday. The Independent Municipal and Allied Trade Union (Imatu)...
Updated 2 hours 39 minutes ago Development financier Eastern Cape Development Corporation (ECDC) executive Noludwe Ncokazi on Friday said the organisation had the “huge responsibility of ensuring business continuity”, following the resignation of ECDC subsidiary Automotive Industry Development...
Updated 2 hours 39 minutes ago South Africa’s second-largest oil refinery, Engen Refinery (Enref), is set to undergo a three-day planned maintenance outage from July 9 as part of an ongoing maintenance programme to ensure that the facility, which delivers a significant portion of South Africa’s...
More
 
 
Recent Research Reports
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Road and Rail 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
NHLANHLA NENE The main constraints to economic growth are domestic
Finance Minister Nhlanhla Nene earlier this month stated that, while South Africa’s 2015 economic growth target of 2% was achievable, it was not enough to deliver the tax revenue needed to combat the country’s challenges.
The World Steel Association has published the 2015 edition of the World Steel in Figures report, which shows an increase in steel production as well as provides an overview of steel industry activities from crude steel production to apparent steel use.
The 25-year master plan for Gauteng’s Aerotropolis project will go through a process of approval and adoption during June and July, says Aerotroplis project manager Jack van der Merwe. “We are also in the process of putting together a special purpose vehicle (SPV) to...
SOLAR PANELS The existing buildings in the Coega Industrial Development Zone lent themselves well to rooftop solar panel installations
The Coega Development Corporation (CDC) plans to fit 15 of its buildings, totalling 127 000 m2 of roof space, in the Coega Industrial Development Zone (IDZ), in the Eastern Cape, with solar panels.
The Supreme Court of Appeal’s (SCA’s) November 2014 judgment, ordering steel producer ArcelorMittal South Africa (AMSA) to hand over the 2003 Environmental Master Plan for its Vanderbijlpark steel plant to environmental pressure groups, confirmed the right of civil...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96