EFF slams the 2018 Budget Speech By DESTINY MAN REPORTER
21 February, 2018, 17:40
The speech also marked the first budget under new South African President Cyril Ramaphosa.
Finance Minister Malusi Gigaba says his Budget will cause economic pain but that its proposals, including a one percentage point hike in the Value-Added Tax rate and cuts in state spending, are necessary to stabilise the country's finances. Below-inflation adjustments to personal income tax brackets will contribute US$500 million.
South Africa remains polarized by inequality more than two decades after the end of white-minority rule in 1994, with the lion's share of the economy still in the hands of the white minority population.
The policy is a gamble for the ruling African National Congress (ANC) as it could hurt its poor and black middle-class electoral base going into elections in 2019.
Moody's, which rates South African debt on its lowest investment grade rung, placed the country on review for a downgrade.
Gigaba said the current zero-rating of basic food items such as maize meal, brown bread, dried beans, and rice will limit the impact on these households. "If you live on an extremely tight budget and have to count every rand you have, it will affect what you can buy".
In another development, the excise duty rate on luxury goods goes up from 7-9 percent, the minister said.
Growth rose to 0.9 percent last year from a paltry 0.3 percent the previous year. The tax hikes are part of a package of measures to raise an additional R36-billion in light of a revenue gap of R48.2-billion in the current year.
Finance Minister Malusi Gigaba briefs then-Deputy President Cyril Ramaphosa ahead of his visit to the United States of America for the IMF World Bank Spring meeting and his meetings with the rating agencies at the Deputy President's official residence OR Tambo House in Pretoria on April 18, 2017. "What people should expect is some repairing type of interventions taken to restore the books of National Treasury", the spokesman, Mayihlome Tshwete, said when asked what was expected of Wednesday's budget.
"Gugaba has this tainted history and the problem with him delivering the budget is that people know that he has been involved so intimately (with alleged corruption) and can not signal to global markets a credible turnaround", said Georg.
"The markets believe Ramaphosa is good for our economy", said Ken Swettenham, a financial analyst at Liberty Life.
Taking a broader look at the analyst consensus, brokerage firms have a price target of $30.8 on Macom Technology S (NASDAQ:MTSI). The 14-day RSI is now sitting at 32.68, the 7-day is at 38.73, and the 3-day is spotted at 73.94 for Macom Technology S (MTSI).
It turned negative, as 58 investors sold DHR shares while 367 reduced holdings. 13 funds opened positions while 36 raised stakes. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable.
In 2018 alone, Democrats have won Republican-held state legislative districts in Missouri, Wisconsin and Florida. At her campaign headquarters in downtown Shepherdsville, Belcher said she won the election "fair and square".
Justin Falvey, Darryl Frank, Lawrence Bender and Kevin Kelly Brown will also executive produce alongside Plec. The Originals writer Carina Adly MacKenzie penned the script for the pilot episode, which Julie Plec directs.
Researchers say they found 248 cenotes at the 347-km (216-mile) cave system known as Sac Actun, near the beach resort of Tulum. Runoff from a nearby dump could have caused high acidity levels in the cave where archaeologists uncovered a human skull.
Meanwhile, Congress and BJP leaders have lashed out saying that the surrender by the CPI (M) workers is a staged incident. Vijayan, in a statement, said some people involved in the case were taken into custody and others also would be arrested.
Jamie Oliver has put his Barbecoa restaurants up for sale, as his food empire struggles with falling bookings and rising costs. Last month the TV chef said he planned to close 12 of the 37 branches of his Jamie's Italian chain.
The stock is now moving below its 20-Day Simple Moving Average of -3.22% with a 50-Day Simple Moving Average of -2.54 percent. It increased, as 53 investors sold CMCSA shares while 517 reduced holdings. 9 funds opened positions while 28 raised stakes.
The two women who were removed however, are not willing to give in that easy. "We had nothing to do with the whole disturbance". The four passengers were later released without charge, though all have been banned from travelling with Transavia Airlines.
Mowinckel then relegated the American down into the bronze medal position after finishing just 0.09 seconds off the pace. She also created a stir Feb 14. when she wrote on Twitter that she was looking for a Valentine's Day date .
If it was meant to create discord, he said, then the American investigations into that interference show they've succeeded. The paper published a story Sunday about the family, who said that what Nikolas Cruz did baffles them. "We call B.S".
The Push Netflix TV Show Trailer
It's called The Push , and it hails from a "psychological illusionist" from the United Kingdom named Derren Brown . So strap in, kids, as it looks like things are about to get pretty sketchy.
Stock You May Need To Reconsider: Johnson & Johnson (JNJ)
It is positive, as 39 investors sold BEN shares while 185 reduced holdings. 38 funds opened positions while 48 raised stakes. The stock has a market capitalization of $357,710.00, a P/E ratio of 341.41, a P/E/G ratio of 2.23 and a beta of 0.74.
Billy Graham: Influential US evangelist dies at 99
His message reached millions more as he maintained a near-constant presence on radio, television and the internet. At first sceptical of the civil rights movement in the U.S. , he went on to become a supporter in the 1950s.
USA intel tags Duterte as threat to democracy
Presidential spokesman Harry Roque said on Wednesday Duterte had made a decision to bar Rappler from all presidential coverage. He also proposed a separate global summit to address human rights issues around the world.