2022-03-21 18:46:53

21 Mar 2022 @ 18h45 - Potchefstroom Campus

Interview with Professor in Economics at the Northwest-University Potchefstroom Campus. Waldo Kriegel, they are talking about the future of the South-African economy due to Russia's invasion on Ukraine.

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good evening only and welcome to the thing business our i'm nick if stats year the ceo of the central media group so last so last week russia week russia and the grain got into war what now for the south african economy i'm evening by joined this waldo critical professor in economics north west university the potchefstroom campus good evening how are you waldo good evening you i'm well thank thanks for the opportunity you thanks to talk to for always being available now to us tell me early do you think it's too to say how russia's invasion of the crane will impact south long africa's economy in the term yes it's starting to say are a few short there indicators term indicators already that are already that are crystallising long but the run we'll have to see what happens now the obvious short term economic factors can look at such we as inflation rates rate hikes interest are they coming yes the destination on the inflation side price we see the oil spiking in that feeds into our price which fuel leads on to inflation prices as and food well i say everybody having a look has been at these really high for for prices grade and for some flowers that's also and going to to feed inflation into our rate and wants inflation is starting get going to the reserve bank choice but will have no to increase interest rates as well listen to the business our next step the central media c group i'm joined by walt crucial professor in economics at the north university west professor energy prices oil you talk about the price there's a lot of speculation going around stories being written by highly regarded and report journalist is about forty forty rand rand do you you think think a a litre litre do forty rand is tough for the bureau economic research i think who good words does really they estimating maybe at two per rand litre increase next month but looking beyond that's quite difficult because no one knows where there is always going when the uncertainties oil and around energy will be reduced against looking at all these impacts russia's invasion u crane of the definitely south will have impact an on impact south on economic africa's economic africa's recovery recovery read earlier that's the last one point quarter two percent growth much but it's very going to slow down which now where in sectors do you think a slowdown we're gonna see it's minute consumers and fixed investment that are going to struggle because higher of the inflation rate in higher prices lot of things for a consumers will be under pressure and their contribution to growth be limited is going to due to this once an days and interest rate cycles cycles that that just goes up just that's going to as limit investment well the sectors that are going do well in south africa to of course mining our minerals are in demand and high prices are and agriculture as well those days i to was not a stalwart african of the south economy day looks set to do this year well so i that wanted to talk to really central south africa rich we've got a mining heritage wouldn't be it be platinum will diamonds will it be gold we where can all should we be now looking to invest both platinum palladium rhodium all those prices are really high growth almost doubled past in the week or two and a well the gold gold as price is high levels i think it's it's a general less staff of commodity prices that will benefit south african companies mining so the russia new claim would definitely an impact impact on on south south african african economy economy africa in in central st south what kind of impact on the agricultural sector agricultural sector is going to from high benefit from commodity prices as well there's an input side the story we know is a that russia major exporter fertiliser the inputs fertilizers to those prices have really increase and going to have an impact that's at least on the farmers on planting winter crop soon going to happen what's in by the tunnel next the next the in summer season summer starts season starts see we'll have we'll to have to no one's quite sure was yet how that going to listen to the our safm business with us this evening is professor crucial waldo professor in economics university at the north west potchefstroom campus professor thanks for your time you welcome thank you for the opportunity