It's likely to be a pro-growth budget in line with the government's target of reaching annual GDP growth of 6 by 2010.
More Quotes from Colen Garrow:
Manufacturing will be under pressure because of currency strength, it will hold the sector back and put the handbrake on keeping growth from reaching its potential level.Colen Garrow
Despite the odd shortcoming, this Budget is on balance good. It entrenches South Africa's good fiscal record.
Colen Garrow
It's a modest number but it could be better were it not for the rand. The sector is growing on strength of local demand and it does look as though global manufacturing is pulling itself out of a slump - but we are not out of the doldrums yet.
Colen Garrow
What the bank is more likely to do (than cut rates) is intensify its moral suasion in support of a more competitive exchange rate.
Colen Garrow
The monetary policy committee cautioned last month that it may not allow growth in credit to go unchecked, inferring that it may be concerned that consumption expenditure could introduce an element of inflation sufficient to attract a monetary tightening response.
Colen Garrow
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