Efficient Group economist Dawie
Roodt says the South African economy does not have a very bright future after
the Rand fell to 17-99 to the dollar yesterday evening before regaining some
Roodt says the country is most likely to
experience a recession this year.
“Well I'm afraid 2016 doesn't look that good for the South African economy and the bad case scenario is quite possible that economy can dip into recession”, said
Roodt added, “Chances are very good that we going to see
inflation, especially food inflation going up quite a lot”.
“We going to see an increase in interest rates
so we going to see unemployment probably going up and lot of uncertainty in the
economy. So I'm afraid 2016 is not a very promising year for the South African
economy”, He explained.
Labels: 2016 not a good year for South African economy