Economic forecasts for
There's bad news on the front page of South African financial paper, BusinessDay.
There we learn that economists are worried that the government's budget deficit for this year will be higher than forecast. This, they say, is likely to lead to spending cuts on projects intended to stimulate economic growth and job creation.
Weak domestic demand and the four-month platinum strike are expected to see revenue fall short of the Treasury's projections, with low consumer demand curbing value-added tax collections, which account for more than a quarter of tax revenue. Strike-related declines in mining and manufacturing could also reduce inflows from corporate tax.
On inside pages, BusinessDay reports that the latest quarterly report from
The National Conventional Arms Control Committee approved contracts to the value of
The problem is that the report shows that five
A local defence expert said the transaction "baffled" him, but he speculated that the vehicles might have been built in
The vast majority of
The Sowetan gives pride of place to a report that South African president
Earlier this year, the public protector found that Zuma had unfairly benefited from improvements made using millions of rand in public money at his private Nkandla homestead in KwaZulu-Natal.
The main items of expenditure are likely to include education and health, investment in infrastructure, salaries and wages for civil servants and cash transfers from national to devolved government units.
Experts say the government will also have to focus on security to improve investor confidence and reverse the decline in tourism.
The Treasury plans to fund this year's Budget deficit through domestic borrowing, commercial financing, and a debt swap.
According to sister paper, The Daily Nation, Treasury Secretary Rotich is expected to engage in a delicate balancing act as he seeks to raise additional revenue to pay for the government's rising expenditure while ensuring that he does not overburden taxpayers. Nice work, if he can manage it.
Not surprisingly, the Ugandan Daily Monitor gives pride of place to Sam Kutesa.
The 193 members of
In making his acceptance speech, Kutesa was buoyant, having triumphed over an online petition to block his candidature on the grounds that he was unfit. Activists have criticised
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