Budget Speech

Here.

Growth stimulus

Engineering News identifies 4 components to the stimulus plan outlined in the State of the Nation yesterday:

• implementation of scheduled public investment projects, the value of which is currently at ZAR690bn;
• `Intensified’ public sector employment programmes;
• measures against “‘excessive’ investment slowdown by the private sector” (this presumably means something like state support, or rescue packages for `key’ industries); and
• expanded social expenditure (through existing channels – the old age pension and child care grant)

See the whole article  here.

Nedbank guide

Via Moneyweb the 2009 Nedbank guide to the economy. Short term difficulties are foreseen, followed by improvement as inflation pressure and interest rates ease. Government spending, which will remain strong, is likely to help. According to the report, Africa will suffer from reduced FDI and falling commodity prices. 3% growth for South Africa is predicted for 2010. Rand volatility is expected to continue into 2010. Read the whole report here.