Measuring SA’s ‘second’ economy

first_img12 October 2005In the coming months Statistics South Africa (Stats SA) will be sending fieldworkers to households all over the country to assess informal and self-employment, so as to measure the growth of South Africa’s informal economy.This will help provide a clearer picture of the country’s economic growth and unemployment, and help the government provide services to encourage entrepreneurship.Stats SA deputy director-general Elizabeth Gavin told Parliament’s portfolio committee on finance on Tuesday that South Africa’s “second”, or informal, economy was difficult to measure because the sector’s large number of small and informal businesses were not listed on the official business register. The survey is an attempt to remedy this situation.Survey fieldworkers are being trained and will be going out to selected households in the coming weeks, Gavin said.This ties in with Stats SA’s priority of improving the quality of statistical information, as was achieved by its November 2004 benchmarking and rebasing of GDP, the committee was told.Gavin said the survey was important to assess the impact of the informal economy on South Africa’s GDP.Statistician-general Pali Lehohla said informal employers and the self-employed should be taken into account in the assessment of GDP; the only way to do this was with a household survey of a sample frame of dwellings.Reliable information on the number of informal businesses is also necessary for the government to provide the necessary services to encourage people to start their own businesses, the committee was told.The survey would also result in more accurate unemployment figures, Stats SA officials said.The stricter international definition of employment does not reflect “job-seeking behaviour” as a whole, the committe was told. The standard measure may therefore not provide a comprehensive picture of the problem.A broader definition of unemployment accounts for factors such as “discouraged” job-seekers, so providing a clearer picture of actual numbers of people out of work.Source: BuaNewslast_img read more

Priority spending for Grand Turk Master Plan roll out

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppTurks and Caicos, March 20, 2017 – Grand Turk – Carnival Cruise Lines is pleased, says the Premier, with her administration’s ability to re-engage vendors in Grand Turk after the parties had reached an impasse on how the cruise destination ought to develop.   There is a development fund, which has grown to $6 million, and despite its good intentions the money has been virtually untouched and this has hurt the Grand Turk cruise destination.Some 82,000 less tourists arrived at the Grand Turk Cruise Center in 2016, and the rating of the cruise center has also dropped.  Residents of Grand Turk have speculated that the dip is linked with the dilapidated aesthetics of the island and complaints that there is not enough for visitors to do in Grand Turk.   A Grand Turk Master plan is proposed but movement is stagnant.Premier Sharlene Robinson said, their plan as the new administration is to start spending the money.  “We’re left now to decide which will be the most impactful, which are low hanging fruits.  The fund is about six million dollars, the infrastructure fund, and we do intend to use that fund for the benefit of Grand Turk.  So you will see in an upcoming budget little infrastructural support from the TCIG’s budget for Grand Turk.  We would carry out road works which is the responsibility of the government, but we will be using quite a bit of the infrastructure fund for Grand Turk.”#MagneticMediaNews#priorityspendingforGrandTurk#CarnivalCruiseLineTCI#GrandTurkCruisePort#betterinfrastructureforGT Related Items:#betterinfrastructureforGT, #CarnivalCruiseLineTCI, #GrandTurkCruisePort, #magneticmedianews, #priorityspendingforGrandTurklast_img read more