No rand intervention: SARB
The South African Reserve Bank will not intervene in the foreign exchange market to manage the strength of the rand, says deputy governor Daniel Mminele, adding that a floating exchange rate regime has cushioned South Africa from the more severe effects of the global downturn.
South Africa relaxes exchange controls
South African Finance Minister Pravin Gordhan has announced the further relaxation of exchange controls, along with a number of other reforms, in a bid to reduce the cost of doing business in the country and attract more foreign investment.
Capital investment 'to sustain growth'
A sound fiscal position and low levels of public debt have allowed the South African government to sustain public service delivery while increasing capital investment spending to boost economic growth and create employment, says Finance Minister Pravin Gordhan.
Govt identifies key focus areas
South Africa has targeted five key areas for improvement over the next three years, namely job creation, education and skills, healthcare, rural development, and the fight against crime and corruption.
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