GOING UP: Fuel and other commodity prices
Following the increase in Value Added Tax (VAT) and the introduction of a plethora of other levies last month, commodity prices could soon hike again.
This is because the central bank has cautioned that the potential increase in international commodity prices could spill into the country and drive inflation in an upward trajectory.
Bank of Botswana (BoB) Governor, Moses Pelaelo, said during the recent Monetary Policy Committee (MPC) meeting that risks to the inflation outlook are assessed to be skewed to the upside.
“Upside risks include the potential increase in international commodity prices beyond current forecasts, aggressive action by governments (for example Economic Recovery and Transformation Plan) and major central banks to bolster aggregate demand including the successful roll out of vaccines,” said the Governor.
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The Malta Chamber of Commerce, Enterprise and Industry has welcomed the launch of the regeneration incentives announced by the government in addition to top-ups to existing direct support schemes. It said the regeneration incentives go beyond addressing the immediate liquidity needs and are aimed at supporting and re-energising businesses and the Maltese economy in the process of recovery.
The chamber said it applauded the enhanced Business Re-Engineering and Transformation Scheme – ‘Change to Grow’, which it championed since its inception back in June 2020. This scheme is now open to a wider cohort of economic operators including micro-enterprises and self-employed entrepreneurs, and the maximum grant has been doubled to €10,000 for implemented projects, to further encourage uptake.
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