Research

BER Comment Documents

While acknowledging that SA faces a hill, “the highest, perhaps, we have yet to climb”, in terms of job creation and poverty alleviation, Finance Minister Pravin Gordhan’s second Medium-Term Budget Policy Statement (MTBPS) provided a more upbeat outlook for the economy and the fiscal position than was the case in the February Budget.

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While the most severe global recession since the Second World War ended some time ago, the fallout from the crisis continues to (periodically) haunt global financial markets. The latest source of concern is heavily indebted (mainly Southern, although not exclusively) European countries, most notably Greece. Despite recent upbeat data releases on the global real economy, in our view the most important conclusion from the European difficulties is that for the foreseeable future, the balance of risks for the global (and SA) economy is tilted on the downside.

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This note explores the latest forecasts and methodologies for predicting international tourism volumes to South Africa during the 2010 FIFA World Cup.

Against the backdrop of a still challenging (albeit improving) macroeconomic environment, Finance Minister Pravin Gordhan presented a Budget that aims to put SA on a more inclusive economic growth path, but at the same time dispelled any doubts about government’s commitment to prudent fiscal and monetary policies.

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