Economist Dawie Roodt warned that South Africans should brace for tough times with high inflation, a weak currency, high interest rates, and political and financial uncertainty.
Economist Dawie Roodt warned that South Africans should brace for a rough ride with high inflation, a weak currency, high interest rates, and political and financial uncertainty.
“The private sector will withdraw its funding to plug the fiscal deficit gap. They are already doing that,” he said. The rand has already weakened, and long-term interest rates are already high, but Roodt warned it could worsen. “The ANC government has run local governments, state-owned enterprises, and the national accounts into the ground,” Roodt said.
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