🌍💼 Economist highlights the wider impact while government focuses on long-term solutions. Inflation Economy More on TheCitizenNews 👇
“The conflict has a direct impact on … rising food prices as a result of the scarce availability of grain and fertilizer.“We are dealing with an ever-emerging threat of food security on the continent. This has contributed to the hardships, including inflation. It is important to appreciate why this African peace mission is so important.”“It may feel that we are moving at a snail’s pace but we are seeing very encouraging signs ofprogress which must be acknowledged,” he said.
“The minister of electricity [Kgosientsho Ramokgopa] has made some significant headway in this regard through his various engagements. He has recently travelled in Asia where he brought back a lot of case studies, as well as the potential partnership that we can pull in the execution of the energy action plan.”Magwenya said the government acknowledged some of the units at power stations were behind the unplanned electricity outages.
“The president and the other African heads of state’s visit to Russia and Ukraine, many people thought was just a PR exercise but it proved to be very useful in that it exposed misleading representation from both countries.”Dumisa said inflation was not only a South African issue. “As we are complaining about the inflation, which improves to 6.3% for May, the European Union is battling with inflation at over 8%; the UK is still battling with inflation at over 10% and they are all struggling with how to balance the interest rate hike as a blunt instrument,” Dumisa said.
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