Dawie Roodt on SA arms-to-Russia impact - Higher interest rates, inflation, no GDP growth

The recent dispute between the South Africa and the United States over claims from the U.S. Ambassador to South Africa that South Africa had supplied weapons and ammunition to Russia would have a negative impact on South Africa’s economy. That’s according to Sufficient Group Economist Dawie Roodt who anticipated some recovery in the Rand’s value, but he told Biznews that the currency would remain weak, resulting in inflationary pressure. Roodt told Biznews that a fifty base point hike in interest rates in response to the situation is likely and that he expects that the South African economy is not going to grow this year. Learn more about your ad choices. Visit megaphone.fm/adchoices