Africa briefs
South Africa's outlook for tax revenues unchanged
South Africa finance minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit.
Nene made the comments in parliament.
Treasury director general Dondo Mogajane said earlier this month that South Africa will struggle to raise the tax revenues needed to reduce a budget deficit and support fragile economic growth due to ongoing problems in tax administration.
-Nampa/Reuters
Egypt tourism revenues jump 83%
Egypt’s tourism revenues jumped 83.3% in the first quarter of 2018 to US$2.2 billion, a government official told Reuters.
The number of tourists who visited Egypt in that time jumped 37.1%to 2.383 million, added the official who asked to remain anonymous.
-Nampa/Reuters
Doubts arise over Nigeria interest rate cuts
Nigeria’s central bank kept its main interest rate at 14% on Tuesday, prompting some economists to question whether rate cuts will ever materialise in the wake of slowing inflation rates.
“The objective of the policy stance will be to accelerate the reduction in the rate of inflation to single digits, promote economic stability, boost investor confidence and promote foreign capital flows,” Central Bank of Nigeria (CBN) governor Godwin Emefiele said.
-Nampa/Reuters
Morocco’s annual inflation rises
Morocco’s annual consumer price inflation rate rose to 2.7 % in April from 2.5% in March, mainly due to higher food prices, the High Planning Authority said on Tuesday.
-Nampa/Reuters
SA to cut 'Gupta clause' in Mining Charter
South Africa will remove a clause from its Mining Charter that includes naturalised citizens in the group of people who should benefit from attempts to more evenly redistribute the country’s mineral wealth.
Mineral resources minister Gwede Mantashe is in talks with companies, unions and mining communities on an update to the mining charter after a version published last year by his predecessor prompted legal challenges from the industry. Among the criticisms of the 2017 charter was its recognition of black and other historically disadvantaged people who had taken citizenship after being in the country for long enough.
Fin24
South Africa finance minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit.
Nene made the comments in parliament.
Treasury director general Dondo Mogajane said earlier this month that South Africa will struggle to raise the tax revenues needed to reduce a budget deficit and support fragile economic growth due to ongoing problems in tax administration.
-Nampa/Reuters
Egypt tourism revenues jump 83%
Egypt’s tourism revenues jumped 83.3% in the first quarter of 2018 to US$2.2 billion, a government official told Reuters.
The number of tourists who visited Egypt in that time jumped 37.1%to 2.383 million, added the official who asked to remain anonymous.
-Nampa/Reuters
Doubts arise over Nigeria interest rate cuts
Nigeria’s central bank kept its main interest rate at 14% on Tuesday, prompting some economists to question whether rate cuts will ever materialise in the wake of slowing inflation rates.
“The objective of the policy stance will be to accelerate the reduction in the rate of inflation to single digits, promote economic stability, boost investor confidence and promote foreign capital flows,” Central Bank of Nigeria (CBN) governor Godwin Emefiele said.
-Nampa/Reuters
Morocco’s annual inflation rises
Morocco’s annual consumer price inflation rate rose to 2.7 % in April from 2.5% in March, mainly due to higher food prices, the High Planning Authority said on Tuesday.
-Nampa/Reuters
SA to cut 'Gupta clause' in Mining Charter
South Africa will remove a clause from its Mining Charter that includes naturalised citizens in the group of people who should benefit from attempts to more evenly redistribute the country’s mineral wealth.
Mineral resources minister Gwede Mantashe is in talks with companies, unions and mining communities on an update to the mining charter after a version published last year by his predecessor prompted legal challenges from the industry. Among the criticisms of the 2017 charter was its recognition of black and other historically disadvantaged people who had taken citizenship after being in the country for long enough.
Fin24
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