Ekonomie – SA – Economy

 

Daar is net een pad wat Suid-Afrika verder loop om effe te herstel of die ander pad, die afgrond met die krioelende massas werkloses te konfronteer wat nie gaan voedsel hê om te oorleef nie – en dit sluit heelwat blankes ook in wat nie inkomste het nie.   Al is die virus daar, is daar steeds heelwat produkte wat positiewe resultate lewer wat gebruik kan word.   Die grendelstaat moet ook onmiddellik gestaak word.    (Lockdown must be stopped immediately).

Formally adding unemployment or economic growth to the South African central bank’s mandate would risk policy mistakes and hurting its credibility, Governor Lesetja Kganyago said on Wednesday.

 

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Om nog verder te gaan, moet daar soos in onmiddellik ontslae geraak word van rassisme op alle vlakke van regering en in die parlement met swart bemagtiging en regstelaksies.   Hierdie wetgewing is net op blanke besighede en blankes gemik wat nie deel mag neem aan enige ekonomie nie.   Dit is ook teen internasionale reg om teen burgers te diskrimineer weens hul velkleur.   Elke regering wat ooreenkomste aangaan met die ANC maak hul netso skuldig aan diskriminasie teenoor ‘n plus minus 4 miljoen blankes in die land, wat uitkring na ander, omdat heelwat blankes besighede skep en werk verskaf.

Die ANC (saam DA-EFF-ACDP en ander) regering, doen hul uiterste bes, selfs nou in die corona “lockdown” om van blanke besighede ontslae te raak, wat ‘n inkomste vir die regering ingehou het – en dit sluit drank, sigarette en toerisme in.

Dit kom dus voor dat die huidige ANC (en hul kaders) regering nie net moedswillig is hiermee nie, maar doelbewus die land vernietig, met opset die blankes teiken om van hulle ontslae te raak.    Buitelandse Regerings wat memorandums onderteken met die ANC,  is skuldig aan dieselfde internasionale misdaad – diskriminasie,

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OPLOSSING IS DUIDELIK – ‘N EIE ONAFHANKLIKE LAND (VOLLE SOEWEREINITEIT SOOS BOTSWANA)

Indien die regering steeds van mening is om van ons Blankes ontslae te raak, moet daar na die 1994 Volkstaatraad se finale aanbevelings (en ondersoeke) gekyk word, om ‘n totaal aparte land vir ons Blanke volke te skep, weg van die kommuniste en ANC.   

Dan is die kommuniste verewig ontslae van die blankes en kan hul dan met die res van Suid-Afrika maak nes hulle wil.   

Blankes (Boere en Afrikaners),  het netso ‘n internasionale reg as ander volke.   Nie alle blankes is Boere of Afrikaners nie, dus word alle blankes wat hul daarmee vereenselwig, genoem.
Wat het na 1994 gebeur – “apartheid” is nie weg nie – inteendeel, dit het gegroei as na Hansards, Wetgewing en Witskrifte gelees word.   Dus, waarom moet 8840 tradisionele Khoisan en Swart leiers onderhou word, en hulle is niks van ons Blankes nie.

Tans het die Khoisan en Swart etniese volke almal steeds aparte gebiede wat hul geregistreerde CPA’s of Trustgebiede noem.    Ou Tuislande of Kroongebiede, het slegs naamsveranderinge ondergaan.

Wat vir een geld, geld ook vir ons.   Daar is tans duisende grondeise (CPA of Trustgebiede) wat reeds afgehandel is, regdeur die land, waarop ons as blankes geen reg op het nie.   En onderling het die Khoisan volke geen reg in Zoeloe volke se Ingonyama Trustgebiede nie,   


Ekstra las en finansiering

Hierdie gebiede het heelwat inkomstes uit die staatskas ontvang en ontvang dit steeds.  Ook dit het ‘n groot hap uit die Ekonomie uit, want 8840 leiers is beslis nie min nie.   Verder is daar oor die 400 lede van parlement, daar is honderde provinsiale ministers, asook munisipaliteite, wat almal inkomstes en finansiering ontvang.    Van die bankrot staatsentiteite soos Eskom, SAL en ander word nie eers genoem nie, dit suig ons leeg.

 

 

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The Reserve Bank (SARB) has long been under pressure to take more drastic measures to revive growth in Africa’s most advanced economy, with calls for the bank to slash lending rates and finance government through quantitative easing (QE).   The bank has cut rates by 300 basis points in 2020 to a record-low 3.50%.   In March it launched a bond-buying program, purchasing government debt in the secondary market to ease a liquidity collapse in the capital markets prompted by the COVID-19 pandemic.

But with the economy, already in recession before the coronavirus and set to contract by more than 7% this year, and the government budget nearing double-digits deficit, labour and some politicians have called for more drastic action, including a widening of the bank’s mandate.    “The problem is that formally adding an extra mandate, in the context of our propensity to stagflation, could encourage policy mistakes and weaken credibility,” Kganyago said in a speech broadcast virtually by the University of Pretoria.

“While we would all like South Africa to reach permanently high growth, this is beyond the powers of a central bank,” Kganyago said, adding the bank would stick to inflation-targeting policy.    “We are in very difficult circumstances, but QE isn’t the answer. We need to focus on real solutions.”

https://www.today.ng/business/economy/south-africas-economic-woes-bigger-monetary-policy-central-bank-chief-312634

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Bad Factors to kill any economy

Terrorism – Revolution and protests, the burning down of businesses, schools, municipal services, etc  – Crime – Murders – Rapes – Corruption on all levels of government – Less Food production – Unemployment – Racist laws : B-BBEE and EE – ongoing since 1994.   Drugs and Illegal immigrants came into South Africa in their millions and all expected free services, houses, education, sassa, etc.   As long as this is ongoing, it

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South Africa’s economic freedom score is 58.8, making its economy the 106th freest in the 2020 Index. Its overall score has increased by 0.5 point due to a higher government integrity score. South Africa is ranked 12th among 47 countries in the Sub-Saharan Africa region, and its overall score is well above the regional average and slightly below the world average.

The African National Congress (ANC) has dominated politics in South Africa since the end of apartheid in 1994. Corruption scandals forced two-term president Jacob Zuma to resign in 2018. He was replaced by current President Cyril Ramaphosa, who secured his own five-year term when the ANC won the May 2019 elections with 57 percent of the vote, the lowest percentage in ANC history. A radical leftist party pushing land expropriation received 10 percent of the vote. South Africa has a highly developed economy and advanced infrastructure. One of the world’s largest exporters of gold, platinum, and other natural resources, it also has well-established financial, legal, communications, energy, and transport sectors as well as the continent’s largest stock exchange. Rates of formal-sector unemployment and crime are high.

 

Property rights are relatively well protected, and contracts are generally secure, but economic growth and food security are threatened by a highly charged land reform debate and proposals to redistribute land rights. South Africa benefits from a robust legal framework and courts that process judicial cases reliably and competently. There is a robust anticorruption framework, but the laws are inadequately enforced, and public-sector accountability is low.

The top personal income tax rate is 45 percent, and the top corporate tax rate is 28 percent. Other taxes include value-added and capital gains taxes. The overall tax burden equals 28.6 percent of total domestic income. Government spending has amounted to 33.0 percent of the country’s output (GDP) over the past three years, and budget deficits have averaged 4.3 percent of GDP. Public debt is equivalent to 56.7 percent of GDP.

BLACK ECONOMIC EMPOWERMENT IS RACIST AND DISCRIMINATION AGAINST THE WHITE MINORITY PEOPLE OF SOUTH AFRICA

Policy uncertainty, weaknesses in regulatory oversight, violent crime, labor unrest, and unprofitable state-owned enterprises have a negative effect on business activity. Labor market rigidity has contributed to extremely high unemployment rates. The government has abolished price controls on all but a handful of items, such as coal, petroleum and petroleum products like diesel and paraffin, and utilities.

The total value of exports and imports of goods and services equals 59.8 percent of GDP. The average applied tariff rate is 4.6 percent, and 175 nontariff measures are in force. Private investment continues to be hindered by nontransparent laws, and foreign investments face additional restrictions that breed inefficiency. The financial sector has undergone modernization, and the banking sector is regarded as resilient and sound.

https://www.heritage.org/index/country/southafrica

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Key South African data released this week suggests a record economic contraction in the second quarter as the damage wrought by a nationwide lockdown to curb the spread of the coronavirus pandemic becomes clear.   Manufacturing production, mining output and retail sales plunged in the three months through June as the country imposed a strict lockdown on 27 March that shuttered almost all activity except essential services for five weeks.

With mining and manufacturing contributing about a fifth of total gross domestic product and trade, which includes retail, making up 15%, the drop means the recession probably became much deeper in the second quarter.

Africa’s most-industrialised economy contracted an annualised 2% in the three months through March, extending its recession to a third-quarter even before the impact of the global pandemic and measures to curb its spread were felt.

Reserve Bank forecasts show an annualised drop in GDP of 32.6% for the three months through June from the previous quarter.

That would be the deepest quarterly decline since at least 1990 and is conservative relative to Investec Bank Ltd’s estimate of a 48.2% annualised contraction. The statistics office is scheduled to publish GDP data for the second quarter on 8 September.

The government started a gradual and phased re-opening of the economy on May 1 and restrictions were eased to so-called level 3 a month later. However, the closure of some businesses and scaled down operations that have lead to job losses are expected weigh on demand, slowing the recovery.

The National Treasury sees the economy contracting by 7.2% this year, the most in almost nine decades.

What Bloomberg’s economist says…

“Bad as it is, the 2Q contraction in growth has already happened. What matters now is the strength and pace of recovery.

“With restrictions now lifted on most sectors, the main constraint on growth will shift away from the ceiling created by containment measures and onto demand. The latest data already point to slowdown of momentum — an indication that economic activity and demand remains subdued. We therefore expect a weak recovery.”

New data suggests record economic drop for South Africa


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The University of Pretoria and the South African Reserve Bank are hosting a webinar to mark 100 years the Faculty of Economic and Management Sciences at the University of Pretoria and to celebrate the 10th anniversary of Professor Nicola Viegi serving as South African Reserve Bank Chair in Monetary Policy Studies in the Department of Economics.
https://www.youtube.com/watch?v=4dDRr9mUdYI&feature=emb_logo

 

The Economy of South Africa

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