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Zulu assures existing SMME support programmes won’t be scrapped

Despite a degree of ambiguity around the transfer of small business-focused promotion programmes from under the auspices of the Department of Trade and Industry (DTI) to the newly formed Department of Small Business Development (DSBD), Small Business Development Minister Lindiwe Zulu has confirmed that these programmes are unlikely to be abandoned. “We’d like to put in on record that the current programmes under the DTI will continue because business cannot afford any form of vacuum.

IMF cuts SA’s 2014 growth outlook again, warns of tighter financial conditions

The International Monetary Fund (IMF) has once again lowered its 2014 growth forecast for South Africa to 1.7%, having previously forecast that Africa’s second-largest economy would expand by 2.3%. The 0.6% downward revision, which is contained in the World Economic Outlook (WEO) Update, released in Mexico City on Thursday, is also well below the 2.8% projection outlined by the IMF for South Africa in 2013. However, its 2.7% growth projection for 2015 was maintained.