Mr Deputy President
Governor of the South African Reserve Bank
Members of the Executive Committees for Finance
Fellow South Africans
Today I table:
The Division of Revenue Bill
The Appropriation Bill
The 2020 Budget Review
The 2020 Tax Proposals
Mr President, in your State of the Nation Address two weeks ago you reminded us that our capacity to win is not diminished. We have it within ourselves to be the best in the world. Congratulations to Miss Universe Zozibini Tunzi, the Springboks, and the Proteas, who won while we were preparing this Budget.
Before democracy our growth was pedestrian. Indeed, between 1990 and 1992, the economy contracted for three years in a row.
China in 2012: fixated on stability as the pressures mount without and within.
In the five years from 2003 to 2008, growth averaged around 5 per cent, and South Africa was amongst the fastest-growing major economies. The unemployment rate improved by 5 percentage points.
Wishing you a sparkling New Year and bright happy New Year! May the season bring much pleasure to you.
“Ex Africa semper aliquid novi”
Achieving economic growth and higher employment levels requires a plan.
“Do you not know that those who run in a race all run, but only one receives the prize? Run in such a way that you may win.”
What are the conditions under which we must implement our plan to win?
The ranking is in part based on how successful alumni have been in their careers, as reflected in the salary data.
Mr Karl added: “We would have likely had a record [year] even without El , but it pushed it way over the top.”
The .40-calibre Smith & Wesson that killed her, a semi-automatic handgun, was seized by police to undergo ballistics testing to determine if it had been used in other crimes.
Asia (excluding Japan) is expected to grow by 5.8 per cent in 2020. The Coronavirus is a source of uncertainty to this forecast.
Mr Ravenscroft ended up leaving teaching to found Enabling Enterprise, a body that seeks to bridge the gulf between schools and business by taking pupils out of the classroom and giving them practical projects and visits to businesses, including UBS, the bank, and Freshfields, the law firm.
Against this backdrop we forecast that the South African economy will grow by 0.9 per cent and inflation will average 4.5 per cent in 2020.
Attractions: Food, culture and scary stories
But economists generally expect the momentum of the recent past to resume and continue once storm distortions abate. The 45 economists who responded to The Wall Street Journal's latest monthly forecasting survey saw the jobless rate falling to 7.8% by next June and 7.5% by the end of 2013. Some say job growth could accelerate from its slow pace. 'I think businesses are going to have to hire,' said Bob Baur, an economist with Principal Global Investors.[qh]
These include, amongst others:
The impending change to the electricity regulatory framework
Persistent electricity problems will, however, hold back growth. Over the next three years, we expect growth to average just over 1 per cent.
TOWARDS AN ECONOMIC STRATEGY
President Barack Obama won re-election to a second term in the White House on Tuesday, television networks projected, beating Republican challenger Mitt Romney after a long and bitter campaign。
Strengthening the macroeconomic framework to deliver certainty, transparency and lower borrowing costs
Focusing spending on education, health and social development
Modernising “network industries” and restructuring our state-owned enterprises
Implementing a re-imagined industrial strategy
Focusing on job-creating sectors, such as agriculture and tourism
"There's a new type of wealth creation coming out," he told Reuters, adding China was having to adapt as the wider economy was "very materially slowing down".
Today, we report on our progress. “We are moving forward!”
PRUDENT FISCAL POLICY
OUTLINE OF THE BUDGET FOR 2020/21
法国的巴黎高等商学院(HEC Paris)和法国高等经济商业学院(Essec Business School)连续第三年分列第二和第三。
Budgets are complex, but the numbers are simple. The numbers show that we have work to do.
“Our goal is to produce as many units as we can and, at the same time, make sure that we do it in a way that maintains and enhances the health of neighborhoods,” said Carl Weisbrod, the director of the Department of City Planning.
Expenditure is projected at R1.95 trillion, or 36 per cent of GDP.
Simply put, bladeless fans are fans without blades. They work by sucking in air at their base and then blowing them out through several holes in their ring. The fan is reported to have been invented by James Dyson, who calls it the "Air Multiplier." Just like the flying jetpack, it earned a spot in Time's list of notable inventions of 2009. And just like the jetpack, it was not the first of its kind. The first bladeless fan was actually patented in 1981 by a Japanese company called Tokyo Shiba Electric. Although Tokyo Shiba's bladeless fan was never manufactured, James Dyson's initial design of a bladeless fan design looked so similar to that of Tokyo Shiba Electric that the patent office refused to grant him a patent. The patent granted to Tokyo Shiba had already expired, but the patent office still required something substantially different before it could grant a new patent to James Dyson. Dyson's patent manager, Gill Smith, did not deny the similarities between both bladeless fans but said the difference between them was the "technology."
Indeed, there is some real personal income tax relief.
Hard-working tax payers, who earn on average R265 000 a year, will see their income tax reduced by over R1 500 a year.
Statistics show global research and development expenditure grew at an annual pace of approximately seven percent before 2009, but slowed down to four percent in 2014
We are also proposing broadening the corporate income tax base. This additional revenue will be used to reduce the corporate tax rate in the near future to help our businesses grow.
In early December, authorities announced that market circuit breakers would be introduced become effective from January 1 in an effort to limit the volatility seen during the savage, summer sell-off from June. The circuit breakers would see trading in shares, options and futures halted for 15 minutes if they fell by more than 5 per cent. On their first day of use, that first threshold was breached just after the return from the lunchbreak, prompting a 15-minute halt.
Taken alongside data released in the past few days, and it doesn't make things easier. The country is still struggling with deflation and household spending slumped last month. But retail sales data released this morning topped estimates.
The civil service exam consists of writing tests and interviews. The interviews are expected to be held in February or March, after the writing test results come out in January.
To support the property market, the threshold for transfer duties is adjusted. Property costing R1 million or less will no longer be subject to transfer duty.
Management and leadership skills are just one aspect of EMBAs. “It actually made an entrepreneur of me,” says one graduate. Nearly a third (31 per cent)of graduates have set up their own company, or are about to, since enrolling on their EMBA four or five years ago. FT data show that 91 per cent of the businesses are operating today.
This year has been one of diverse and bold hair and makeup choices, from the frizzy, matted blue-tinted mane of the Witch in “Into the Woods” to the shimmering, expertly shaped pompadour of James Brown in “Get On Up.” In some cases, the absence of hair comes into play, like the bald, heavy-on-the-eyeliner look of Ramses in “Exodus: Gods and Kings.”
She then turns back and pecks the man on the cheek, as the crowd erupts in cheers around them.
We have increased excise duties to keep pace with inflation.
- 2019省级两会全落幕 五大看点透视各地发展目标
- 佛山：业主投诉两年多 天台违建今犹在
- Format: Alternating Friday-Saturday classes, with an initial week-long meeting and a week-long international study seminar
- 智能门窗已逐渐进入普通消费市场 迎接“春天”将是时间问题
- 杭州纵火案两月：官方认定了绿城物业责任 疤痕难愈
In line with Department of Health policy, we will start taxing heated tobacco products, for example hubbly bubbly. The rate will be set at 75 per cent of the rate of cigarettes. Electronic cigarettes, or so-called vapes, will be taxed from 2021.
British statisticians’ unwillingness to correct known errors in the clothing price component of the RPI redistributes many billions every year from students, recent graduates, taxpayers and rail commuters to index-linked UK government bondholders, wealthy pensioners with RPI-linked pensions and rail companies.
Rossello also has pledged to work closely with a federal control board that U.S. Congress created last year to oversee Puerto Rico’s finances, and he has said he supports negotiations with creditors to help restructure a nearly $70 billion public debt.
Despite this increase, the liabilities of the RAF are forecast to exceed R600 billion by 2022/23. We need to take urgent steps to reduce this risk to the fiscus and bring about a more equitable way of sharing these costs. One option is to introduce compulsory third-party insurance.
It was the spring of hope, it was the winter of despair…
An independent gauge of China’s manufacturing sector edged lower in November, suggesting an uptick in activity at state-run companies did not extend to smaller and privately-owned factories.
REDUCING STRUCTURALLY HIGH SPENDING
But fiscal sustainability must be uppermost in our mind.
Mr Baweja agrees with this conclusion, noting that both South Korea and India, another net commodity importer, are exporters of refined oil products, the dollar value of which should rise this year.
Total consolidated government spending is expected to grow at an average annual rate of 5.1 per cent, from R1.95 trillion in 2020/21 to R2.14 trillion in 2022/23. This is mainly due to mounting debt-service costs. Non-interest spending declines on average over the MTEF in real terms.
The total reduction is mainly the result of lowering programme baselines and the wage bill by R261 billion. These are partially offset by additions and reallocations of R111 billion. Of this, more than half, or R60 billion, is for Eskom and South African Airways.
Let me unpack the R261 billion in baseline spending reductions.
Adjustments are mainly in conditional grants for provinces and municipalities.
Over the three years, public transport spending is adjusted by R13.2 billion, mainly on allocations to the Passenger Rail Agency of South Africa and the public transport network grant. The planning and implementation of integrated public transport networks will consequently be suspended in the Buffalo City, Mbombela and Msunduzi municipalities.
Quite a few students were disillusioned by UK visa regulations. “A lot of people saw the programme as a gateway to employment in Europe,” says one. “If this was the objective, then a lot of them would have gone away unfulfilled.”
While some of these savings are good for the fiscus, in many cases we are also making difficult and painful sacrifices. It is therefore important that we direct our constrained resources to areas that have a high social impact and have the largest economic multipliers.
Probably the most awaited movie of all time and a big one for all Batman and Superman fans. We know that Batman is going to defeat Superman, but we don't know how he's going to do so in Dawn of Justice.
THE WAGE BILL
We learned about the causes and consequences of rising obesity around the world.
Public servants do crucial work for our country, often in trying conditions. The governing party is a firm believer in the critical role of the state in development. For this reason, we need qualified, motivated and effective staff.
The work suits Carlson who has been into singing and musical theater her whole life.
又或者，今年是一群有跟虐待、性或其他有关的故事要讲的女性。她们其中几个人在我们的页面上分享了“我也是”(#MeToo)的经历。卡洛塔·加尔(Carlotta Gall)讲述了汉达·阿亚里(Henda Ayari)的故事。后者是一名拥有北非血统的法国公民，也是一名反萨拉菲派活动人士。她指控牛津大学某知名教授强奸了她。
Between 2006/07 and 2011/12, we were able to add about 190 000 employees. However, at the same time government wages also increased significantly.
But McGowan has slammed the movement as 'bull****' in today's Sunday Times Magazine, which comes the day after Judge Brett Kavanaugh was sworn in as a Supreme Court justice in the face of historic sexual assault allegations he denies.
Madam Speaker, we cannot go on like this. Classroom sizes are growing, hospitals are getting fuller and our communities are becoming increasingly unsafe.
Dafoe is probably the current front runner for best supporting actor.
The Cnzz.com report states that almost two-thirds of China's 338 million Web users are now online game players. The online game industry, which currently accounts for more than half of the total Internet economy, will see strong annual growth at a rate of 20% in future years, the report says.
The employer has tabled an agenda item on the management of the public service wage bill at the Public Service Coordinating Bargaining Council, the focus is to discuss containment of costs in the final phase of implementation of the current wage agreement.
There is more than one way in which this goal can be achieved.
High and rising US rates may quickly become drivers of EM crises: such conditions may lead to higher borrowing costs in EMs, along with capital outflows and an unwillingness by the financial sector to take risks.
WASTEFUL EXPENDITURE AND CORRUPTION
二月的一天，苹果(Apple)的年度股东大会进行了一个多小时，蒂姆?库克(Tim Cook)已经耐心地回答了苹果进军电视市场的计划和他如何看待谷歌眼镜(Google Glass)等各类问题。但当一位参会听众就苹果各环保项目（比如其太阳能数据中心）的盈利能力向这位首席执行官发难的时候，库克发怒了。
Fortunately for Honda, it benefits from a deep reservoir of customer goodwill and loyalty in the U.S., as well as a reputation for building high-quality vehicles that are rated highly by objective third parties for their low cost of ownership. The reservoir was drained somewhat by a product defect controversy resulting from airbag deployments that scattered shrapnel on its victims.
The President’s instruction requires a dynamic and appropriate mix of quantity, quality, capacity and capability in the administration of the state.
We are moving forward with reforms to the procurement system with a focus on value for money and maximising the quality and quantity of services. Cabinet approved the publication of a new Public Procurement Bill.
We will propose a new law to stop excessive salaries in these public entities.
Goldie Blox是一家玩具公司，使命是重新定义玩具商店中的“粉红走道”。在科学、技术、工程和数学（STEM）教育和职业领域，男性数量要大大多于女性，大部分女孩往往在八岁前就对这些领域失去了兴趣。Goldie Blox所设计的玩具则通过吸引女孩发展强大的口头及故事讲述能力的方式——同时仍提供机会来发展日后可转化成对工程学兴趣的技能——来鼓励和启发未来的工程师们。说到机会，一家玩具初创企业如何能在和一开始就统治着玩具行业的大公司的抗衡中脱颖而出呢？Goldie Blox走出了明智的一步：最近，该公司发布了一段视频，采用了Beastie Boys的歌曲《女孩们》（Girls）做背景音乐，该视频得到了病毒式传播。尽管这段视频最终被撤下，但Goldie Blox在提高公众对让更多女性和女孩对STEM产生兴趣——以及对Goldie Blox玩具——的认知上，做了一份相当不错的工作。
We are already acting on fruitless and wasteful expenditure. Last year, this House amended the Public Audit Act to empower the Auditor General to:
Hurun Chairman Rupert Hoogewerf said: "Those entrepreneurs should be called 'super wealth creators' instead of simply 'rich people', which could highlight their contribution to China's society and economy."
Take binding remedial actions
To show the determination of the executive to deal with runaway costs, we will implement a number of steps.
- Abolishing the current wasteful subsidence and travel system
- 节目5 创意器乐演奏《琴筝和鸣》雅尼（美国）、常静等
- 28省份确定基本养老金上调方案 这几类人的社保将大变
- 一线市场渐饱和 家居建材市场转向二三线市场
- 棚改资金审批权上移 三四线城市房地产热潮将降温
APPROPRIATE MONETARY POLICY
The twin of our fiscal framework is appropriate monetary policy.
The unemployment rate has plunged over the past three years to 5.8% from 8.6%, but almost nobody, including the Federal Reserve, thinks the labor market is really that healthy.
So far this year, companies have announced 376 share-repurchase initiatives for a total of $261 billion, according to data from Birinyi Associates. That's nearly 72% higher than 2012, though slightly lower when compared to the same period in 2013, which was a record year for buybacks.
For our Aloe Ferox to grow to its full potential, we need to do things that will help it in the medium to long-run – for example, augmenting the soil with the right amount of organic manure, providing the right amount of sun and the correct amount of water. For a fast-growing economy we need to make sure our children are well educated, our people are healthy and our money is invested properly.
Consequently, the largest spending areas will be learning and culture, which receives R396 billion followed by health R230 billion, and social development with R310 billion.
Ellen Johnson Sirleaf, 72, became Africa's first democratically elected female president in 2005. The Nobel Committee praised the Liberian leader for her efforts to secure peace, promote economic and social development and strengthen the position of women.
Format: Alternating Friday-Saturday classes, with an initial week-long meeting and a week-long international study seminar
Transfers to provinces support schooling for 13 million children and healthcare for 49.1 million South Africans. It is in this context that taking forward consultation on the NHI is important.
The rest of them, he goes over quickly:
The Department of Higher Education and Training will reallocate existing funds to undertake a feasibility study for the establishment of a new university of science and innovation in Ekurhuleni.
13. iPhone Reminders
THE INFRASTRUCTURE FUND
上榜的商学院包括来自26个国家的商学院，其中美国有35家，英国有10家，中国有9家。中国人民大学商学院(Renmin University of China School of Business)的排名上升最快，从第43名升至第18名。法国的格勒诺布尔商学院(Grenoble Business School)排名第70名，土耳其的萨班哲大学管理商学院(Sabanci University School of Management)排名第99名，巴西的Coppead排名第100名。
In fact, capital spending is the fastest growing component of non-interest spending. This spending is complemented by the Infrastructure Fund. Over the next three years the Development Bank of Southern Africa will package blended finance mega-projects of least R200 billion. Government has committed R10 billion over the next three years.
Will China’s reported gross domestic product growth surpass 6.5 per cent
今年27岁的黑人安娜（Ana Beatriz Ferreira）是里约的一名看车员，她说：“门票那么贵，当然只有白人才买得起，进去看球怎么可能轮到我？”
To date, Jobs Fund projects have created more than 175 000 permanent jobs, and helped 21 000 people into internships and created 59 900 short term jobs. Of these, 65 per cent went to youth.
The top 10 Weibo celebrities now have a combined 40 million followers. One of the most famous online figures, Papi Jiang, already signed a contract for video ads worth a staggering 22 million.
We intend to make this intervention a resounding success.
There's a difference, though, in a team like Miami that's playing its young guys and trying to build a core while taking on losses, and, say, the Magic, who are trying to jump-start a stalled process.
Grants reduce inequality and protect the most vulnerable in society.
I am happy to announce that grants are adjusted as follows:
R80 increase for the old age, disability and care dependency grants to R1860 per month
R40 increase for the foster care grant to R1040 per month
Changing the way we provide social grants has generated about R1 billion per annum in efficiency savings, which will be partly used to raise the daily subsidy per child.
Madam Speaker, the next component of our plan is to modernise network industries and to restructure the state-owned enterprises.
Government will do “whatever it takes” to ensure a stable electricity supply. As I said, it is our number one task. We have allocated R230 billion over ten years to achieve the restructuring of the electricity sector.
In contrast, the nation witnessed a tumbling trend for minivans, whose volume totaled 71,300 units, a 31 percent drop year-on-year.
Determinations to implement the Integrated Resource Plan of 2019 are finalised and await the concurrence of the National Energy Regulator.
SOUTH AFRICAN AIRWAYS
Agricultural raw materials, especially the so called soft commodities such as sugar, coffee and cotton, have been among the top performers this year.
The CPI rose by 2 percent.
2013 Rank: 3
Qatar University claimed the most international institution, marking the first time a Middle Eastern university has topped the list.
We will ensure workplace safety and people's lives.
OPENING UP OUR MARKETS TO TRADE WITH THE REST OF THE CONTINENT
First there was SARS, then the global spread of H5N1 flu and now the H1N1 flu. Globalization is not helping, either. The earth now is truly a village, making it easy for a virus to travel from Beijing to Boston in a matter of hours. Will another epidemic arrive in 2010?
Countrywide, month-on-month prices rose in 62 out of 70 major cities last month, were unchanged in one and fell in seven.
While many young children try and avoid school work at all costs, the star professes to be a keen student because she wants to avoid the trap of becoming 'a stupid dancer.'
We want to encourage South Africans abroad to keep their ties with the country. We will raise the exempt amount for foreign remuneration to R1.25 million. We will phase out the administratively burdensome process of emigration through the South Africa Reserve Bank.
To implement the reimagined industrial strategy:
Plans to open 20,000 specialist football schools in 2017, aimed at training young players and cultivating talent, are part of the government's latest plan to advance China's ability to compete on the global pitch.
Industrial business incentives worth R18.5 billion will create and retain approximately 56 500 jobs
My Sunshine is a TV drama adapted from Gu Man`s novel of the same title. It stars Wallace Chuang and Tang Yan, premiering in January, 2015. The drama depicts a man and a woman`s reunion and long-lasting romance after seven years of separation. The novel itself has been popular on the Internet and was published in 2003. Wallace Chuang soon rose to become a romantic icon among female viewers because of the role he played in the adaptation, presenting an ideal image of lover to the audiences.
R6.5 billion is allocated for small business incentive programmes of which R2.2 billion will be transferred to the Small Enterprise Development Agency
A network of walking and biking trails leads to other lakeside neighborhoods and to downtown, which is about 15 minutes by bicycle and 10 by car. The Walker Art Center and other museums are nearby. Hockey and skating are popular on the lakes in winter; canoeing, swimming and fishing in the summer.
SETTING: This house is in Kenwood, a neighborhood of 19th- and 20th-century Tudors, Mediterraneans, Victorians and colonial-style houses between Cedar Lake and Lake of the Isles, in the city’s Chain of Lakes. Roads are curving; sidewalks are lined with maple and ash trees. According to the listing agent, many of the neighborhood’s older houses have been restored, while houses built within the last 30 years have been torn down and replaced.
LOWERING THE COST OF DOING BUSINESS
Steps are being taken to address South Africa’s lagging productivity growth and reduce the cost of doing business.
在周二发布的一份研究报告中，行业组织国际金融协会(Institute of International Finance)经济学家罗宾?克普克(Robin Koepke)表示，投资者、新兴市场政策制定者以及美联储自身都忽视了美国利率在引发新兴国家汇率、银行及债务危机方面的作用。
It makes piggybacks more comfortable.
The Competition Amendment Act came into force on July 2019, strengthening the Competition Commission’s powers. The Commission has conducted inquiries into a number of sectors to strengthen competition.
Umbrellas for dogs are having a moment. They’re cute and funny, but also practical.
挪威曾为一只企鹅授予爵位。它现在居住在苏格兰的爱丁堡动物园，是那里的企鹅王，它叫尼尔斯·奥拉夫（ Nils Olav）。它不仅是一只吉祥物，更是挪威皇家护卫队的名誉上校。2008年8月15日，国王哈拉尔五世（King Harald V）授予奥拉夫爵位，并在授予典礼上声明“奥拉夫在各方面都有资格获得骑士爵位的荣誉和尊严”。
The spectrum licensing plan was released in November, preparing the way for auctioning high demand spectrum. ICASA will be appropriately capacitated for this. A voucher system will be introduced to allow households to acquire digital devices.
Over the medium term we will support Agriculture and Tourism. Government has allocated R495.1 million to the Department of Agriculture, Land Reform and Rural Development to improve compliance with biosecurity and support exports.
“This growth is further backed by Video Editing making an appearance at number 3 on the list with a 19% increase,” the report states, “as video content becomes one of the initial draws and call to actions for most customer-focused websites. Heavy video marketing through social media also increases this demand.”
To support tourism, we will engage with the tourism industry on formalising the tourism levy.
Madam Speaker, fighting corruption is a priority of this Administration.
"Pandas used to be really difficult to breed in captivity, but the Chengdu base and other zoos around the world have cracked the problem and now there are around 400 in captivity," Mr Marven said.
Against: There was no love from the New York nor LA critics.
This will enable the appointment of approximately 800 investigators and 277 prosecutors who will assist with, among other things, the clearing the backlog of cases such as those emanating from the Zondo commission.
OFF-BUDGET INITIATIVES TO GROW THE ECONOMY
Working with the financial sector, a pilot of the Help to Buy scheme has supported over 2 000 families to buy their own homes. For every R1 subsidy provided by government, the scheme crowds in R8 from the private sector. In a single year, the Help to Buy scheme has supported nearly R1 billion in new lending.
Last year, this House passed legislation which will allow state-owned enterprises to apply for banking licences. In July 2019, I tasked the Deputy Minister of Finance with the responsibility to undertake the state bank project. Madam Speaker, I am pleased to inform the House that preferred options for the establishment of a bank are now ready.
James Franco’s new movie about the making of The Room will make you belly-laugh, but its comedy is also deeper and richer than mere mockery.
Australia is the No. 8 Best Country overall. The Land Down Under – No. 4 in Quality of Life and No. 9 in Adventure – also ranks in the top 10 in terms of education.
We will also consolidate the currently fragmented system of national and provincial Development Finance Institutions.
SOVEREIGN WEALTH FUND
Mr President, a Sovereign Wealth Fund is an important long-term tool for saving and investment for future generations. It can also contribute to strengthening the fiscal framework. We must learn to save during the good times, and a Fund can play an important role as a counter-cyclical fiscal tool.
潘通色彩研究所(Pantone Color Institute)的执行总监莱亚特丽斯·艾斯曼(Leatrice Eiseman)说：把这两种颜色组合起来反应出“一种令人慰籍的秩序感与和平感”，在这个全球动荡和缺乏安全感的时代，把这种感觉融入产品应该具有吸引力。它也暗示着，“我们”和“他们”之间没有界线。
9) I would rather keep people at a distance 0 1 2 3 4
AN EFFICIENT AND CAPABLE STATE
The National Development Plan calls for a capable and efficient state that creates the right environment for the private sector to flourish.
But if the U.S. can avert that Washington-made crisis, the outlook for workers finding jobs is actually looking pretty good for next year. For one thing, the damage of superstorm Sandy will have to be repaired, meaning jobs in construction and retail. Businesses, meanwhile, which have held off investing and hiring because of uncertainty over the fiscal outlook, might finally open their wallets. That means more jobs, too.[qh]
SARS is an integral part of the capable state. We are focused on re-establishing institutional integrity and fighting criminal activity. Just this past week two individuals were convicted for up to 168 years’ imprisonment for tax fraud.
For all South Africans, the “state” is their municipality.
8.Form or Join a Study Group
Mr President, the National Treasury asked members of the public to provide tips to guide our thinking as we shaped this Budget. Today we are joined by Ms Akhona Mgwele from Gauteng who advised us to “support greater local economic development in municipalities.” We agree with her!
The lending conditions were not limited to nude pictures. Also leaked were a number of screenshots of supposed dialogues between the borrowers and lenders, with one lender demanding that the female students deliver a video of herself masturbating.
The Minister of Cooperative Governance and Traditional Affairs and I have agreed that our officials will find ways to use the allocations made through the Municipal Infrastructure Grant to ensure that municipalities not only build new infrastructure but also maintain the infrastructure they already have.
The Great American Eclipse
Average age: 36 for English blended program
“Someone left for lunch and never came back.”
在2017年FT对全球95个管理学硕士项目的排行中，虽然瑞士圣加仑大学(University of St Gallen)继续蝉联冠军，但法国和英国商学院分别以24个和18个项目入围成为中坚力量。超过一半的英国商学院排名上升，而只有一家法国商学院排名上升。三分之一的英国商学院排名上升5位，相比之下，三分之二的法国商学院排名下降5位或更多。
All these steps build a capable state.
Madam Speaker, there are a number of entities that report to the Ministry of Finance.
The country’s money laundering system is currently undergoing a peer review, which will help strengthen the fight against illegitimate and illegal flows. The South African Reserve Bank will in future play a more integral part in this fight.
It’s the time of the year for list making! This Youku video clip named the nine hottest lines on China’s web this year. The Yangtze Evening Post, an influential newspaper, is the original list compiler.
The National Treasury will take steps to strengthen the budget process.
Winning is not easy.
Less than two years before winning the World Cup, the Springboks lost 57-nil to the All Blacks. Miss Universe did not win her first attempt at Miss South Africa.
To paraphrase Charles Dickens, who I quoted in my first address as Minister of Finance, we will make these the best of times.
A word of appreciation to the Deputy Minister of Finance, The National Treasury Director General and his team.
Colliding Neutron Stars
人力资源机构罗伯特?哈夫国际公司（Robert Half International）最近针对4,000名企业高管进行了一项调研。其中有88%的人预计，未来一年，公司的业务将有所好转。这不失为最鼓舞人心的消息了。
My gratitude for the Parliamentary Committees who work tirelessly to process the legislation accompanying the Speech.
“With confidence we lay our case before the whole world, whether we win or die, freedom will rise in Africa, like the sun from the morning clouds”.
Mudzimu fhatutshedza Afurika
What the average person earns in different countries around the world (Supplied by LoveMoney)