Thursday February 09, 2012

From Creamer Media in Johannesburg, I’m Shannon De Ryhove

Making headlines:

President Jacob Zuma is expected to focus mainly on economic issues during his yearly State of the Nation address at the opening of Parliament this evening. National Assembly Speaker Max Sisulu said the main thrust of the speech should focus on job creation. DA Parliamentary leader Lindiwe Mazibuko said South Africans wanted the speech to be inspiring adding that Zuma should be honest about his government's shortcomings, such as the failure to keep the pledges made in previous State of the Nation addresses. Cosatu spokesman Patrick Craven said the organisation expected Zuma to continue rolling out the policies in the ANC election manifesto.

Egypt's ruling generals said that they would deploy more soldiers and tanks across the country, an announcement seen as a warning to activists planning a national strike on the anniversary of the overthrow of President Hosni Mubarak. Campaigners demanding a swifter transition to civilian rule have called for mass walkouts and civil disobedience on February 11. At least 15 people have died in street fighting in Cairo and the eastern city of Suez in recent days, unrest provoked by the death of 74 people after a soccer match.

In light of serious external and domestic economic headwinds, a concerted efforts were required to raise public sector investment to levels where South Africa once again began sustaining a minimum yearly investment rate of 25% of GDP, Standard Bank’s chief economist Goolam Ballim has argued. At such levels of investment, the State’s cumulative investment programme could be more than R1.5-trillion into much-needed transport, power, water and municipal infrastructure over a three-year cycle, which could help underpin GDP growth rates of 4%. But failure to facilitate such an upscaling in investment would result in the South African economy losing even more momentum. Standard Bank was currently expecting GDP growth of only 2.8% in 2012 and 2.9% in 2013.

Also making headlines:

Business Unity South Africa said it hoped President Zuma would seek to strengthen an entrepreneurial culture in the country, especially among small and emerging businesses, when he delivers the State of the Nation address.

And, conflict, population displacement and high food prices mean millions of people in South Sudan face hunger this year, two UN food agencies said.

That’s a roundup of news making headlines today.