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
[LISTEN] Kaizer Chiefs to face Orlando Pirates in Soweto Derby

[LISTEN] Kaizer Chiefs to face Orlando Pirates in Soweto Derby

EWN Sports anchor Morena Mothupi shares his prediction for the game.

6500 scholar patrolman in Gauteng to go through compulsory vetting process

6500 scholar patrolman in Gauteng to go through compulsory vetting process

The process is compulsory for all scholar patrolman and follows a series of sexual abuse cases at reported at Gauteng schools.

#LifeEsidimeni: Families share harrowing details

#LifeEsidimeni: Families share harrowing details

A woman has described how she found her brother’s eyes were missing when she saw him in the morgue.

Back to work for 10111  call centre operators as strike is called off

Back to work for 10111 call centre operators as strike is called off

The Labour Court on Thursday dismissed Sapu’s urgent application to rule whether the strike is protected.

Lord Hain wants the Gupta family and associates investigated

Lord Hain wants the Gupta family and associates investigated

Lord Hain is rallying financial officials in Britain, Dubai, Europe and Hong Kong to investigate the Gupta family.

'Ramaphosa will be able to campaign more freely for president if he is fired'

'Ramaphosa will be able to campaign more freely for president if he is fired'

Analyst Ralph Mathekga says if Zuma fires Ramaphosa he would no longer be constrained by being part of the administration.

Popular articles
Dr Mbuyiseni Ndlozi opens up about his thesis

Dr Mbuyiseni Ndlozi opens up about his thesis

Ndlozi explains the significance of the the first chapter of his thesis: 'Trauma in the archives'.

Sassa cards will be functional beyond expiry date

Sassa cards will be functional beyond expiry date

Sassa says text messages making the rounds asking beneficiaries to come and renew their Sassa cards is a hoax.

Mashaba moves to insource security guards come Jan 2018

Mashaba moves to insource security guards come Jan 2018

Mashaba is also on a mission to identify owners of buildings in the city centre that he says are harbouring criminals.

Why Sisulu and Dlamini-Zuma aren't suitable Presidential candidates: analyst

Why Sisulu and Dlamini-Zuma aren't suitable Presidential candidates: analyst

ANC branch in the Eastern Cape, Z.R Mahabana, has launched a campaign backing Lindiwe Sisuslu as an ANC presidential candidate.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.

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?