'Mini-budget is realistic'

Business Unity SA welcomed yesterday's mini-budget, saying it shared Minister Trevor Manuel's realistic economic outlook for the country.

Business Unity SA welcomed yesterday's mini-budget, saying it shared Minister Trevor Manuel's realistic economic outlook for the country.

"Although the South African economy will not escape the impact of the serious slowdown in world economic growth, we are in a relatively good position to handle the effects of the global financial turmoil," said Business Unity SA (Busa).

It said Manuel's prudent fiscal policies enabled him to take an anti-cyclical stance that could help stabilise the economic outlook and strengthen social safety nets. Busa welcomed the postponement of an electricity levy until next July, as well as the financial support offered to Eskom. It said South Africa should remain committed to the mini-budget's guidelines to achieve growth, job creation and poverty alleviation over the longer term. - Sapa

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