Die ekonomie minuut

Economists understand opportunity costs as the cost of the alternative you did not choose. This past week, the opportunity cost of the tax on sugar-sweetened beverages was in the spotlight.

In internasionale nuus, het die Ministers van Finansies van die G7 lande verlede week ingestem tot die idee van ʼn wêreldwye minimum belastingkoers. Die idee is om te keer dat multinasionale maatskappye hulle winste tussen lande rondskuif om belasting te spaar. Hulle wil ook graag die belastingstelsel aanpas om handel in nie tasbare-produkte, soos data, in ag te kan neem.

In international news, the Finance Ministers of the G7 countries last week agreed on the idea of a global minimum tax rate. The idea is to prevent multinational companies from shifting their profits between countries to save taxes. They would also like to adjust the tax system to allow trade in intangible products, such as data, to be taken into account.

Die belangrike ekonomiese nuus van die week gaan die eerste kwartaal se BBP groei syfer wees. Ekonome verwag dat dit gaan beskryf hoe die ekonomie herstel, spesifiek die belangrike rol wat die uitvoer van kommoditeite op die oomblik speel. Na raming is die mynbousektor se bydra tot ʼn derde van die groei wat verwag word.

The important economic news of the week is going to be the first quarter's GDP growth figure. Economists expect it to describe how the economy is recovering, specifically the important role that commodity exports are currently playing. It is estimated that the mining sector contributes up to a third of the expected growth.

Die rand het hierdie week op sy sterktste vlak sedert die begin van 2019 verhandel en Woensdagaand op R13,50 teen die dollar gestaan. Of die rand versterk, of die dollar verswak, is soos die twee lemme van ʼn skêr en mens is nie seker watter een die snywerk doen nie. Dit is dus moeilik om dag-tot-dag veranderinge in die wisselkoers te verklaar, maar mens kan na grotere kragte kyk wat die vraag na r...

The rand traded at its strongest level since the beginning of 2019 this week and stood at R13.50 against the dollar on Wednesday evening. Whether the rand is strong, or the dollar weak, is like the two blades of a scissor and one is not sure which one does the cutting. It is therefore difficult to explain day-to-day movements, but one can look at bigger forces that can increase the demand for rand...

Twee belangrike leidende aanwysers van die herstel van die ekonomie, kredietverlening en nuwe voertuigverkope, is hierdie week bekend gemaak, maar dit is nie so maklik om te interpreteer wat hulle aandui nie.

Two leading indicators of the recovery of the economy, private sector credit extension and new vehicle sales were announced this week, but it is not so easy to interpret what they indicate.

The results of the quarterly labour force survey of the first quarter of 2021 were announced yesterday. Unemployment according to the narrow definition rose to 32.6%. According to the broad definition, the unemployment rate is 43.2%. News of a record unemployment rate may sound shocking, but the changes from the fourth quarter are actually small and may even be somewhat interesting if one investig...

Die resultate van die kwartaalikse arbeidsmagopname van die eerste kwartaal van 2021 is gister bekend gemaak. Werkloosheid volgens die eng definisie het tot 32,6% gestyg. Volgens die uitgebreide definisies is die werkloosheidskoers 43,2%. Nuus van ʼn rekord-werkloosheidskoers klink dalk skokkend, maar die veranderinge vanaf die vierde kwartaal is eintlik klein en selfs dalk ʼn bietjie interessant as...

Gister was die sperdatum om die grondwetwysingswetsontwerp oor onteiening sonder vergoeding te finaliseer, maar dit blyk dat die proses verleng gaan word. Die proses is 'n bron van beleidsonsekerheid.

Yesterday was the deadline to finalize the constitutional amendment bill on expropriation without compensation, but it appears that the process will be extended again. The process is a source of policy uncertainty.

Hierdie week begin met ʼn nuwe vlak-2 inperking en ʼn klomp ekonomiese data om na uit te sien.

This week starts with a new level-2 lockdown and a lot of economic data to look forward to.

This week there were excited reports in the media that the e-tolling system in Gauteng will soon be scrapped. Thereafter, the presidency said that no such decision has been made yet. I understand that no one like e-toll, but how do we want to pay for infrastructure investment in the future?

Hierdie week was daar opgewonde berigte in die media dat die e-tol stelsel in Gauteng binnekort geskrap gaan word. Daarna het die presidensie gesê dat daar nog nie so besluit geneem is nie. Ek verstaan dat niemand is lief vir e-tol nie, maar hoe wil ons in die toekoms vir infrastruktuur-investering betaal?

Wat is die onbedoelde gevolge van die verbod op verkoop van sigarette tydens die inperking?

The ban on the sale of cigarettes was one of the parts of the Covid-19 national state of disaster that we will remember for a long time. Everyone knew a guy and profits were made in the black market like never before. But what has happened since August when the ban was lifted? Researchers estimate that about 5% of smokers quit smoking, but among the rest, many more tax-free cigarettes are being sm...

Aan die einde van Aprilmaand is die spesiale Covid verligtingstoelaag van R350 per maand vir die laaste keer betaal aan 6,9 miljoen werklose volwassenes. Die verwagting van die #PayTheGrants veldtog was dat die regering nou ʼn basiese inkomste toelaag gaan instel. Daar is verskeie argumente daarvoor, en een groot een daarteen.

At the end of April, the special Covid relief grant of R350 per month was paid for the last time to 6.9 million unemployed adults. The expectation of the #PayTheGrants campaign was that the government would now introduce a basic income grant. There are several arguments for it, and one big one against it.

Oor die afgelope paar weke het al drie kredietgraderingsagentskappe, Moodys, Fitch en S&P Suid-Afrika se kredietgradering onveranderd gelaat. Dit is goeie nuus, maar beteken ook daar is net soveel tyd oor om ware hervormings te maak.

Over the past few weeks, all three credit rating agencies, Moodys, Fitch and S&P, have left South Africa's credit rating unchanged. This is good news, but it also means that there is only so much time left to make some real reforms for growth.

Die afgelope week het gewys dat dit is ʼn kuns om monetêre beleid te maak. Aprilmaand se inflasiekoers het skerp gestyg en die Reserwebank se kwartaallikse voorspellingsmodel het aangedui dat die repokoers ook moet styg, maar die monetêre beleidskomitee het dit onveranderd gelaat.

The past week has shown that there is an art to making monetary policy. April's inflation rate rose sharply and the Reserve Bank's quarterly projection model indicated that the repo rate should also increase, but the Monetary Policy Committee left it unchanged.