Less talk more action to solve 0% growth forecast says economist Iraj Abedien

A statement was issued yesterday by the South African Reserve Bank Governor Lesetja Kganyago that the bank has now cut its forecast for our economy, and that it now believes our economy will not grow at all this year.

Stephen Grootes speaks to Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings, about future outlooks. Abedien says he is not surprised by the figure.

It's been a secular trend over the past four or five yeas, that our GDP has been continually scaled down, or projected down.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings

Local and international projections suggest that there's a structural impediment to this economy regaining it's growth momentum.

Too much talking and analysing has caused paralysis, he says.

It's gone to the point of thinking that talk and feel good speeches or promises will turn the economy around. The economy has gone way beyond that pint, a long time ago.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings

He says what does turn an economy around is "always delivering and under promising. Talk less, act more." The key is to demonstrate that you understand what is at stake and create confidence and a level of credibility.

This is where South Africa and the government as a whole, is failing us badly.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings

The injection of investments into the economy by private and public sectors needs to be carefully monitored quarter by quarter, he says.

Unless investments begin to flow in a substantial way, no economy can turn the corner, no matter who is leading.

Dr Iraj Abedien, Chief Executive Officer of Pan-African Capital Holdings
Read More
Facebook is coming for everything including Netflix and YouTube users

Facebook is coming for everything including Netflix and YouTube users

Popular social media networking site, Facebook will soon be launching its own online video streaming content.

'2017 looks to me  similar to 2007' - Habib

'2017 looks to me similar to 2007' - Habib

The Wits Vice Chancellor fears ANC politicians will repeat the same mistake made in Polokwane.

Former finance minister Nene says he is 'disturbed' by fake China letter

Former finance minister Nene says he is 'disturbed' by fake China letter

Reports citing Gupta leaks claims a letter was written in Nhlanhla Nene’s name and addressed to the China Development Bank board.

Public clash in Parliament between two ANC MPs over SAA saga

Public clash in Parliament between two ANC MPs over SAA saga

The two MPs Peace Mabe and Yunus Carrim, who belong to the same party, exchanged unpleasant words while discussing issues at SAA.

"Inflation targeting is the best route for an emerging market" - economist

"Inflation targeting is the best route for an emerging market" - economist

Thabi Leoka disagrees with Deputy Finance Minister Buthelezi that inflation targeting is bad for emerging economies such as SA.

Opposition MPs pushing for Parly to summon Hlengiwe Mkhize and Malusi Gigaba

Opposition MPs pushing for Parly to summon Hlengiwe Mkhize and Malusi Gigaba

Both ministers have failed to arrive for a meeting to discuss the decision to grant the Gupta family citizenship.

Popular articles
So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Spur's 'Monday burger' special extended until June

Spur's 'Monday burger' special extended until June

Spur says they are spreading some good news with their promo extension.

Last chance for Spur's 2-for-1 burger special this Monday

Last chance for Spur's 2-for-1 burger special this Monday

Monday (March 27) is your last chance to sink your teeth into the popular burger special which Spur will discontinue from April.

Money market accounts (and Exchange Traded Funds) FAQs answered

Money market accounts (and Exchange Traded Funds) FAQs answered

Personal finance guru Warren Ingram explains what money market accounts are and the difference between various ETFs.

Stephen McGowan's family still hoping for his return after 2011 Mali abduction

Stephen McGowan's family still hoping for his return after 2011 Mali abduction

The Gift of The Givers and the government are both working to secure his release.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?