9. Government expenditure as % of GDP
Europe
France 56.3
Denmark 56.0
Belgium 53.5
Italy 50.0
Emerging markets 28.5
Netherlands 50.0
Greece 49.7
Portugal 48.7
Germany 45.6
Spain 43.6
Euro-area 49.4
15. US fiscal cliff at end 2012
Tax benefits that are set to expire end 2012 $bn
Bush tax cuts, middle income earners 182
Bush tax cuts, high income earners 56
Unemployment insurance 34
Payroll tax cut 109
Alternative Minimum Tax 132
Affordable Care Act 27
Total 540
Debt ceiling debacle will result in automatic spending cut-backs
16. US house prices
US House prices,%, m/m, nominal, S&P Case Shiller
1.5
1.0
0.5
0.0
-0.5
-1.0
-1.5
-2.0
-2.5
06 07 08 09 10 11 12
42. SA leading indicator
%y/y
25
20
SA leading indicator, %y/y
15
10
5
0
-5
-10
-15
-20
2006
2007
2008
2009
2010
2011
2012
43. SA consumer spending vs disposable income
%, q/q, 4-quarter moving avearge, real
10
9
Consumer spending
8
Consumer income
7
6
5
4
3
2
1
0
-1
-2
-3
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
44. SA exports to Europe
R billion, 6-month moving average
16.5
15.5
14.5
13.5
12.5
11.5
2009
2010
2011
2012
45. Government revenue and expenditure as % of GDP
%
35
34 Fiscal years
33
32
31
Expenditure as % of GDP
30
29
28
27
26
Revenue as % of GDP
25
24
05/06
06/07
07/08
08/09
09/10
10/11
11/12
12/13
13/14
14/15
46. Government salary payments
Billions
400
+6.4% per annum
360
320
+16.0% per annum
280
240
200
160
2007/08
2008/09
2009/10
2010/11
2011/12
2012/13
2013/14
2014/15
47. Increase in the spending on social grants
%y/y
13
12
11
10
9
8
7
6
5
2009/10
2010/11
2011/12
2012/13
2013/14
2014/15
51. Transnet capacity creation projects
● Iron ore export railway line expansion to 82.5m tons, up from 43m
● Coal railway line expansion to 97.5m tons, up from 65m
● Increase export manganese exports to 12m tons from 5m tons
● General rail freight capacity from 79.7m tons to 170.2m tons
● Container terminal at Coega
● Cape Town container port expansion
● Durban container port terminal berth deepening
● Transnet multi purpose product pipeline