What are Options?
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Low vuyisa trading options, high unemployment, extreme inequality and hurtful fractures in our society — these are unacceptable to all vuyisa trading options us. I have a simple message. We are strong enough, resilient enough and creative enough to manage and overcome our economic challenges. All of us want jobs, thriving businesses, engaged professionals, narrowing inequality, fewer in poverty.
All of us want a new values paradigm, a society at peace with itself, a nation energised by the task of building stronger foundations for our future vuyisa trading options and economy. We want our government to function effectively, our people to work in dignity, with resources for their families, decent homes and opportunities for their children.
We want to see progress throughout our land, in agriculture, manufacturing, mining, construction, tourism, science and research, sport and leisure, trade and commerce. It is within our grasp to achieve vuyisa trading options future. It requires bold and constructive leadership in all sectors, a shared vision, a common purpose, and the will to find common ground. Above all we vuyisa trading options action, not just words. Let us unite as a team, sharing our skills and resources, building social solidarity, defending the institutions of our democracy and developing our economy inclusively.
We do have a plan, to: The Budget rests on the idea of an inclusive social contract, encompassing an equitable burden of tax and a progressive programme of expenditures. The Budget relies on institutions of good governance and a public ethic that values honesty and fairness. If we act together, on these principles, as public representatives, civil servants, business people, youth, workers and citizens, we can overcome the challenges of tough economic times and difficult adjustments.
In acting together we can address declining confidence and the retreat of capital, and we can combat emerging patterns vuyisa trading options predatory behaviour and corruption. We are conscious of the difficulties we face. Our resilience as a nation, black and white, can propel us to a better future if we make the right choices.
Honourable Speaker, I hereby table before the House: In addition, I am introducing the Revenue Laws Amendment Bill to adjust certain provisions regarding to retirement funds, and related matters. Vuyisa trading options are our budget proposals, and I look forward to further engagement through the Parliamentary budget process. Overview of the Budget Honourable Speaker, the past year has seen a deterioration in the global economy.
In our own region, weaker business confidence coincides with a severe drought, bringing with it rising prices and threats to water supply in many areas. In addition we are obliged to confront the impact of slow growth on our public finances, while continuing to respond to the expectations of citizens and communities for improved education, reliable local services and responsive public administration.
The combination of multiple demands and constrained resources at times seems overwhelming. How does the state deal with such complexity? What should we prioritise? As in the past, we have sought advice from citizens. This year, I sought budget pointers on vuyisa trading options specific things: What does government do well? What should we stop doing? How can we achieve inclusive growth?
And paying social grants. Bailing out state entities. Support for small business. Job opportunities targeting vuyisa trading options youth. I greatly appreciate the response from so many South Africans — over in all.
And Ms Ngubane expressed the views of so many tipsters: This will ensure that we produce the quality of students that can take our country forward. As points of departure for the Budget, Honourable Speaker, allow me to emphasise several broad principles that flow through our NDP: The Budget tabled today is guided by the NDP. It is a budget for vuyisa trading options growth, it emphasises partnerships amongst role players in our economy, it prioritises education and infrastructure investment, it supports employment creation and it contributes to building a capable, developmental state.
In brief, we propose the following: The budget deficit will be reduced to 2. In support of growth and development, Honourable Speaker, our initiatives are also aimed at enabling and mobilising private sector and civil society capacity. Engagement with social partners needs to be intensified.
Project plans and investments need to be managed and implemented. But I know you will join me in acknowledging that the real champions of our development are the activists and entrepreneurs, officials and facilitators, vuyisa trading options get on with the job, day by day, of managing programmes and running businesses, serving communities and meeting needs.
Our faith communities, non-governmental organisations and community volunteers all demonstrate daily that basic needs can be met with dignity. We can strengthen these efforts as government, business, religious and community organisations, by working together. A period of unprecedented monetary stimulus in response to the recession is not yet over, and global volatility and structural vuyisa trading options are far from resolved. The pace of economic growth has slowed in many countries.
The price of oil has fallen by 50 per cent since December Our major exports — platinum, gold, iron ore and coal — have seen substantial declines in global demand and in prices.
The effects on our economy are widespread: For the world as a whole, growth declined from 3. A moderate recovery is expected over the next two years. These efforts have helped boost investor sentiment and reduce economic vulnerabilities. Our own structural challenges and reforms are articulated in the Vuyisa trading options Development Plan.
Our economic recovery depends on our ability to convert the plan into actions that deliver on the promise for a better life for all. South African economic outlook Fellow South Africans, growth rates of below 1 per cent fall short of what we need to create employment and reduce poverty and inequality. The Treasury currently expects growth in the South African economy to be just 0. This reflects both depressed global conditions and the impact of the drought. It also reflects policy uncertainty, the effect of protracted labour disputes on business confidence, electricity supply constraints and regulatory barriers to investment.
Vuyisa trading options, the institutional foundations of our economy remain resilient: Mr Raymond Wesley wrote to me vuyisa trading options follows: We are resilient, we are vuyisa trading options, we are resourceful. We know how to turn adversity into opportunity. In the numbers, Honourable Speaker, there are indicators that an vuyisa trading options turnaround is possible if we build confidence and make the right choices. South African exports to the rest of Africa now exceed R billion a year, up from vuyisa trading options R billion vuyisa trading options three years ago.
Yet our economy is not growing fast enough to raise employment or improve average incomes, Honourable Speaker. Investment growth must be substantially scaled up.
If revenue does not increase, expenditure cannot be expanded. It means we vuyisa trading options give greater impetus to sectors and industries where we have competitive advantages. And it means being bold where there is need for structural change, innovation and doing things differently. We need agility and urgency in implementation. International experience has demonstrated that growth is ignited by strong and stable political and economic institutions, sound infrastructure that reduces the cost of doing business and facilitates trade, competition between firms and openness to trade and an environment where firms invest and undertake research and development.
We also know that the more inclusive the economy the greater its scope for growth. These are the challenges we hear in South Africa today. I need to emphasise that violent vuyisa trading options is not an acceptable way of articulating these challenges. Also, in these and other areas, the choices we make cannot meet every need, and the action we require involves collective action by many stakeholders. It also signals the actions underway to improve policy coordination and collaboration between social partners and stakeholders.
As outlined by the President, initiatives are in progress to address our policy coordination and implementation challenges. The aim is to address possible regulatory constraints pro-actively before they take effect. The Community Work Programme is expanding its reach and Jobs Fund partnership projects of R12 billion have been approved. In recent weeks, President Zuma, other Ministers and I have engaged with business leaders to understand their concerns and views.
Confidence and shared understanding have been reinforced. These engagements are clearly critical to boosting our economy, and must be extended to include regional forums and other stakeholders. Vuyisa trading options particularly welcome the working groups that have been established and several practical proposals for joint action.
These include a collaborative initiative to combat corruption and abuse of tender procedures, a new fund to accelerate small and medium enterprise development and measures to build investor confidence and vuyisa trading options to social cohesion. By removing constraints, supporting innovation, protecting jobs, diversifying our economy and exploring new opportunities, we can expand growth prospects.
Our economic outlook is not what it should be, global uncertainty and the drought are very real challenges, but our efforts to build a vuyisa trading options future continue. By working together we can increase growth, broaden participation and inspire confidence in our economy and society.
Investment and sustainable growth Honourable Members, the economist Dani Rodrik has recently noted that in those countries that are still growing rapidly, despite global economic headwinds, public investment is doing much of vuyisa trading options work. To finance the investment needed for sustainable growth, vuyisa trading options have the institutional capacity to blend international vuyisa trading options domestic savings, and to combine vuyisa trading options and private sector financing to mitigate risk and vuyisa trading options the cost of capital.
The Presidential Infrastructure Coordinating Commission, under Ministers Nkwinti and Patel, has brought greater coherence to our strategic investment plans. Reform in this regard is vuyisa trading options consideration. Transnet is acquiring diesel locomotives for its general freight business and locomotives for its coal lines. These are some components of the R billion public sector infrastructure programme over the next three years.