The South African government has often talked a big game about “South Africa open for business”, with President Cyril Ramaphosa and his cabinet setting a 3% growth target for 2025. President Cyril Ramaphosa and his cabinet have set a target of 3% growth in 2025. To reach anywhere near that (after all, between 2012 and 2023 South African GPD averaged only 0.8% per year) the country needs vibrant and active manufacturing and construction sectors.
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Anyone who voted for a party other than the ANC in effect helped to block the proposed VAT hike
While stating the global economy is at a “critical juncture,” in its latest World Economic Outlook the International Monetary Fund (IMF) has slashed its global GDP outlook for this year from the 3.3% projected in January to 2.8%. For South Africa, the IMF downgrades the 1.5% January forecast to 1% now; more realistic than the 1.9% projected by National Treasury in the March Budget.
Kabelo Khumalo’s article refers (“Rail company boss hails fast-tracking of state reforms”, March 28). I share Traxtion CEO James Holley’s assessment that “it’s hard to exaggerate what a game-changer moment it would be if the SA government is successful in implementing those three projects [in the request for information]”.
While walking from one briefing to the next in Washington, DC, last week, I received a notification from South Africa’s favourite app. EskomSePush told me loadshedding stage 2 had been implemented.
The repeated injections of geopolitical, trade, and investment uncertainty delivered by the second Trump administration have hit various governments, not least of which US allies, hard.
After 30 years of democracy, the vast majority of black South Africans continue to languish in poverty at much higher rates than other racial groups.
The National Treasury estimates that 235,542 taxpayers contribute 33.1% of total individual income tax. Of 7,888,615 individual taxpayers, 569,351 contribute 49.1% of all personal income tax (2023/24 financial year).