TOUGH times lie ahead for hard-pressed South African consumers as fuel and electricity prices kick in this month. The Department of Energy on Friday announced increases in fuel prices, with effect from Wednesday. Petrol 95 and 93 will rise by 88c a litre and 86c a litre, respectively Diesel 0.05 percent and 0.005 percent would… Continued
Government revenues will, however, continue to remain vulnerable to a further deterioration in economic conditions IN ADDRESSING the persistent budget deficits, as expected, a combination of increased taxes and cost containment has been proposed, with forecasts of a reduction in the budget deficit to 2.4 percent in 2019. With respect to increased revenue, the implications… Continued
NEW VEHICLE and house sales, the two big ticket items of households, are set to be dented by the latest hike in interest rates and expected further rates increases this year. Azar Jammine, the chief economist at Econometrix, said on Friday that the 0.5 percentage point increase in interest rates by the Reserve Bank last… Continued
ECONOMISTS are divided on exactly how badly the repo rate hikes will affect the average South African in debt, though few believe yesterday’s hike is good news. The South African Reserve Bank is to increase the repo rate by 50 basis points. According to SARB governor Le- setja Kganyago, the rate at which the institution… Continued
Fewer than four out of every 10 of last year’s successful matriculants are going to get jobs immediately, which means that close to 500 000 unemployed youths will be joining the ranks of the unemployed this year. According to trade union Solidarity, the job market is tighter now than it has been for many years… Continued
CONSUMER debt will remain high despite the upcoming drop in fuel prices, a debt counsellor said yesterday. “The drop in the retail price of petrol of 45 cents a litre on Wednesday will bring welcome relief to deeply indebted South Africans, but the overall indebtedness of consumers remains a problem,” Debt Rescue chief executive Neil… Continued
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