Gross reserves rose by a further $0.742m in December 2005 to $20.65bn.
There's even an outside chance of a budget surplus.
We expect there will be tax cuts for individuals and across the board. The minister [of finance] has been blessed with a revenue service that's keen to do its job. But can government spend the money effectively? That's got to be the focus.
Given the still relatively robust domestic demand and an anticipated pick-up in fixed investment spending, the trade balance should continue to trend weaker.
South Africa is screaming out for a broad-based policy response to deal with these obstacles.
The conclusion must be drawn that some of us are living beyond our means.
We need infrastructure spending and spending that creates jobs.
Fortunately, interest rates remain at 25-year lows and are expected to remain low over the coming year.
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