Berry Everitt, CEO of the Chas Everitt International property group, says the most positive news to emerge from the Medium-Term Budget Policy Statement delivered by Finance Minister Tito Mboweni today is that the economy is expected to “rebound” in the final quarter of 2020, and return to positive growth next year of 3,3%, following an expected decline of 7,8% this year.

Wednesday, 28 October 2020 10:19

Mini-budget: A tough balancing act

Finance Minister Tito Mboweni faces a tough juggling act this afternoon, when he presents the 2020 Medium Term Budget Policy Statement (MTBPS) in Parliament.

All eyes will be watching to see how the latest GDP figures impact the MPC’s interest rate decision next week, as well as eagerly awaiting the upcoming October Medium-Term Budget Policy Statement (MTBPS).

Government will in the coming months expedite the implementation of at least 50 infrastructure projects with a total investment value of more than R340 billion.

Failure by construction industry players to comply with Covid-19 hygiene regulations and protocols could lead to site shutdowns which the industry can ill afford, says Databuild CEO Morag Evans, given that it was already in a severe slump prior to the outbreak of the pandemic.

The Master Builders Association (MBA) North has broadly welcomed President Ramaphosa’s vision of massive infrastructure spending as the “flywheel” of South Africa’s recovery from the COVID-19 crisis.

Reports of the demise of the construction industry in South Africa are greatly exaggerated, says construction giant Grinaker-LTA.

Friday, 01 May 2020 10:22

Disappointment at S&P downgrade

Government has expressed disappointment at rating agency S&P’s decision to downgrade South Africa’s sovereign rating amidst the COVID-19 pandemic.

The sudden announcement of the lockdown by President Ramaphosa understandably raised serious and immediate concerns in the building industry.

Thursday, 02 April 2020 21:46

Sisulu calls for a suspension of evictions

The Minister of Human Settlements, Water and Sanitation, Lindiwe Sisulu, has appealed to municipalities and private property owners to suspend evictions during the current lockdown as a result of the COVID-19 pandemic.

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