South Africa's saving rate has dropped from 2.7 percent in 2001 to a negative rating of -0.5 percent in the second quarter of this year, the SA Saving Institute said on Tuesday.
South Africa's saving rate has dropped from 2.7 percent in 2001 to a negative rating of -0.5 percent in the second quarter of this year, the SA Saving Institute said on Tuesday.
2 comments:
Why is that surprising when inflation is higher than savings interest rate? This so called instititute needs to catch a wake up - with gov taxing all but the most meagre of savings yields we have too many incentives NOT to save in SA.
Very nice take on this today on Hayibo.com:
"Manuel urges SA to save a little bit of minus nothing
Finance Minister Trevor Manuel has again urged South Africans to save. Manual conceded that most citizens had no actual money to save, having been taxed to a point where they were eating boiled shoes, but he said that people should try to "put a little something away every month, to get into the habit, even if that something is just a dead squirrel".
Rest of story at
http://www.hayibo.com/articles/view/908
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