Budget 2021 âcould make or breakâ SAâs residential property sector
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The property industry is hoping that Finance Minister Tito Mboweni will outline some solid plans to address unemployment in his 2021 Budget Speech on Wednesday.
This is because job growth will be the key to maintaining the current momentum in the property market, says Tony Clarke, managing director of the Rawson Property Group.
Without it, consumers will lose the confidence to buy property, even if they can afford it. In this sense, the budget plans âcould make or breakâ the countryâs residential property sector this year.
âThe minister is going to have to make some decisive moves to attract and keep more investment from private businesses and individuals so that it can begin to speed up economic growth and hopefully make a meaningful dent in the unemployment rate.â
By TED CORDERO, GMA News
Published January 1, 2021 12:23pm Government-owned or -controlled corporations (GOCCs) remitted a total of P160.62 billion to the Bureau of the Treasury (BTr) as of December 15, 2020, according to the Department of Finance (DOF). In a statement, the DOF said the GOCCs’ remittances will help fund the government’s continuing efforts to curb the spread of COVID-19 and provide economic relief to pandemic-hit businesses and individuals. Of the P160.62-billion remitted to the Treasury, P133.50 billion represents the cash dividends from 55 GOCCs as mandated under Republic Act (RA) No. 7656 or the Dividends Law. The RA 7656 requires GOCCs to remit at least 50% of their net earnings to the National Government (NG).