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Henley offers scholarships to investigative journalists
Henley offers scholarships to investigative journalists

5 trends that can keep the South African MBA relevant
5 trends that can keep the South African MBA relevant

We need to realign government, business and civil society
We need to realign government, business and civil society

Life as a full-time MBA student
Life as a full-time MBA student

Brexit delay provides breathing space for SA
Brexit delay provides breathing space for SA

MSA joins the ADvTECH family
MSA joins the ADvTECH family

SA plunges to 117 out of 149 in gender wage equality
SA plunges to 117 out of 149 in gender wage equality

UCT’s Executive MBA recognised for its distinctive approach
UCT’s Executive MBA recognised for its distinctive approach

GIBS Executive MBA programme debuts in top 50
GIBS Executive MBA programme debuts in top 50

Can Africa fill the glass?
Can Africa fill the glass?

YALI AFRICA launch at Unisa
YALI AFRICA launch at Unisa

The fake resurrection of South Africa
The fake resurrection of South Africa

Don't panic: The digital revolution isn’t that unusual
Don't panic: The digital revolution isn’t that unusual

Why Agile works
Why Agile works

How firms can avoid the mediocrity trap
How firms can avoid the mediocrity trap

How a 100000-strong company is relearning how to innovate
How a 100000-strong company is relearning how to innovate

The changing shape of the MBA
The changing shape of the MBA

Adding climate change to curriculum is a top priority
Adding climate change to curriculum is a top priority

The MBA should turn you into a business disruptor
The MBA should turn you into a business disruptor

Innovation in SA organisations driven by C-level support
Innovation in SA organisations driven by C-level support

UNISA SBL a torch-bearer of training for military veterans
UNISA SBL a torch-bearer of training for military veterans

Scaling up the MBA for relevance in the 4IR
Scaling up the MBA for relevance in the 4IR

Moody's: SA not out of the woods yet
Moody's: SA not out of the woods yet

GIBS manufacturing-focused MBA kicks off in Durban
GIBS manufacturing-focused MBA kicks off in Durban

Henley’s Makhoalibe selected for sought-after programme
Henley’s Makhoalibe selected for sought-after programme

Personal potential, a source of power
Personal potential, a source of power

Reach your business leadership potential with a MBA from WBS
Reach your business leadership potential with a MBA from WBS

MPC: SA needs a period of stable interest rates
MPC: SA needs a period of stable interest rates

SA’s energy problems just the tip of the iceberg
SA’s energy problems just the tip of the iceberg

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What's really driving disruption?

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Why has there been such a failure of leadership?

Steinhoff: Exactly where does responsibility stop and start?
Steinhoff: Exactly where does responsibility stop and start?

The cure for the loneliness of command
The cure for the loneliness of command

How to survive in the age of digital transformation
How to survive in the age of digital transformation

New MBA timetable starts in 2016
New MBA timetable starts in 2016

EVENTS
Henley MBA & PGDIP Preview Day
Henley MBA & PGDIP Preview Day
29 May 2019,
Pretoria

UCT GSB MBA Information Sessions
UCT GSB MBA Information Sessions
15 October 2019,
Johannesburg



06 NOVEMBER 2018
Medium term budget shows that SA's economy remains weak

by Raymond Parsons: Professor at the NWU School of Business & Governance and a former special policy adviser to Busa.
The economic and fiscal strategies outlined in the 2018 Medium Term Budget Policy Statement (MTBPS) or 'mini-Budget' recently by new Finance Minister Tito Mboweni are likely to have a mixed impact on business and the markets, given the constraints governing the fiscal framework. Although facing an unenviable task the Finance Minister nevertheless gave realistic assessment of SA's socio-economic challenges and frankly identified what needs to be remedied. Nonetheless, both the fiscal arithmetic and the growth expectations in the MTBPS have deteriorated.

The projections for future tax revenues, government spending and debt ratios therefore show a continued vulnerable fiscal situation in the period ahead. Gross debt is anticipated to continue to rise to a peak of 59.5% of GDP by 2023/24, which reflects steady deterioration in the debt outlook. It remains clear from the MTBPS that the huge costs of the economic deterioration in SA over the past decade and urgency of renewed economic growth are nowhere more apparent than in government finances - and for which there is no 'quick fix'. In any case, several outcomes from the latest MTBPS will only be apparent in the main Budget in February 2019.

On the positive side the emphasis on higher spending on infrastructure as a driver of growth, the need to mobilise the private sector on a larger scale to expedite implementation and greater accountability at local government level are welcome. Although the problem is being addressed, the MTBPS also shows that the size of the public sector wage bill continues to be a major distorting factor in trying to get the right fiscal balance. The reorganisation of certain state-owned enterprises and reducing their drain on government finances is a step in the right direction but needs to be tackled boldly.

It will, however, also require other key structural reforms if the weak short term economic recovery is to be converted into long term growth and fiscal sustainability. Deeper and tougher decisions still lie ahead if the economy is to break out of its current 'low growth trap' and exceed the expected short term growth rates of about 1.5% to 2.0%. What again clearly shines through the fiscal gloom of recent years, as well as in 2018 MTBPS, is the overwhelming need for a strong and sustainable boost in SA's flagging growth rate on the basis of significant structural reforms and their implementation.
Source:

NWU Business School
At the NWU Business School, we strive to change the way our students think about business. We want our students to become managers/leaders in their own right. Visit our InfoCentre or website.

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