Business Unity South Africa (BUSA) says it expects South Africa's economy to grow by 3% in 2012. Presenting BUSA's economic and business outlook for the country in 2012, BUSA Deputy CEO Raymond Parsons said looking at the present evidence, a 3% GDP trajectory though 2012 could be expected in a best case scenario. He said while this was positive growth, it was insufficient to meet South Africa's socio-economic challenges, especially given the downside risk. "At this rate, it will take South … [Read more...] about 3% GDP Growth Predicted for SA in 2012
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Too Early to Revise 3.4% Economic Growth Forecast
It would be premature to revise South Africa's 2011 growth forecast of 3.4% due to the current global turmoil, says Business Unity South Africa (BUSA). "As BUSA's forecast for economic growth as a whole in 2011 of about 3.4% has always been conservative, it believes that any immediate revision of this forecast would be premature," said the organisation on Thursday. Positive elements in the global outlook include high commodity prices for gold, platinum and coal. South Africa's slow rate of … [Read more...] about Too Early to Revise 3.4% Economic Growth Forecast
Unchanged Repo Rate Supported by BUSA
Business Unity South Africa (BUSA) has expressed its support to keep the repo rate unchanged at 5.5 percent. "BUSA agrees with the decision by the Reserve Bank today (Thursday) to leave interest rates unchanged for the time being. This is a realistic reading of external and internal economic factors. The domestic economic recovery is still modest and the global economic outlook remains uncertain," BUSA said. This as the Reserve Bank's Monetary Policy Committee (MPC) on Thursday left rates … [Read more...] about Unchanged Repo Rate Supported by BUSA
I’m Gonna Give You 30 Days, Maybe
Business Unity South Africa (BUSA) has suggested a 30-day timeline for the payment of small and medium manufacturing enterprises (SMEs) by other businesses, while also calling for better co-operation between the two. BUSA also called for maximum outsourcing and subcontracting opportunities. "BUSA suggests a 30-day timeline and appeals to all organisations to implement this wherever possible," spokesperson Masego Lehihi said on Wednesday, adding that the country had one of the lowest … [Read more...] about I’m Gonna Give You 30 Days, Maybe
