Monday, January 11, 2016

2016 not a good year for South African economy

Simamekle Vakaza
11 January 2016

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 ground today.

 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 Dawie Roodt.

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. 



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