The second half of the year has begun. In the first quarter GDP contracted by 2.2%, marking the biggest decline in nine years, inflation is close to breaking out of the Reserve Bank’s target range, with climbing oil prices remaining a risk to the consumer price index (CPI). Also, the rand is flirting with R14 to the dollar and the 2019 election is around the corner, while the state capture inquiry, and other inquiries, takes centre stage. The country managed to avoid junk status, but data releases show definitively that “Ramaphoria” is no more. Iraj Abedian, economist and CEO of Pan-African Investments and Research Services, spoke to Business Day TV about what lies ahead for the economy in the second half of 2018.
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