Address was promising, but not market-moving as the international macroeconomic backdrop overshadows local news
President Cyril Ramaphosa is shown delivering the state of the nation address in Parliament. File photo: SUNDAY TIMES/ESA ALEXANDER
The extension of the R350 social relief of distress grant to the end of March 2023 will not come as a surprise to the market. The R42bn cost had already been priced into the fiscal baseline forecasts. What would have been a fiscal surprise would have been the introduction of a much larger basic income grant , which had received mixed support in the public space in the lead-up to the Sona.
Implementation has been slow, but it seems we are now much closer to action on past promises; especially the main action points laid out in the 2021 medium-term budget around energy, port and rail infrastructure reforms, as well as legislative reforms to enable skilled migration into SA and facilitate tourism via e-visas.Diversify energy generation to introduce competitive energy markets and ease the supply constraints from Eskom.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IPL Auction 2022: All the SA player movement, actionKagiso Rabada was a big winner at the auction, but young Dewald Brevis, too, who'll also be heading to India.
Read more »
Stormers blow past Lions and cement top place in SA conferenceThe Stormers cemented their place at the top of the South African conference in the United Rugby Championship (URC) with a resounding 32-10 win over the rapidly receding Lions here at Ellis Park on Saturday.
Read more »
MICHAEL AVERY: Going nowhere slowly in local government TrabantRamaphosa’s promises and plans are pointless if the government continues to fail to deliver
Read more »
Covid-19 update: 1,649 new cases reported in SAThere has been an increase of 14 hospital admissions in the past 24 hours.
Read more »