Cabinet needs to wake up and go back to the drawing board - economist

Finance Minister Pravin Gordhan addressed the 12th Numsa National Congress, despite the union leaving Cosatu.

Dr Iraj Abedian, chief executive for Pan African Holdings, takes a look at Pravin Gordhans's assessment of the year which he presented to the union saying we in for tough economic times.

The reality is no matter which sector we look at...creating sustainable jobs and increasing real output...the economy is stuck in what is known as low confidence, low output equilibrium.

Dr Iraj Abedian, chief executive for Pan African Holdings

He says nobody wants to invest, expand production or create new jobs because of this low confidence.

As we go from 2016 to 2017 that picture is not going to change by itself.

Dr Iraj Abedian, chief executive for Pan African Holdings

He says the economy needs external stimulation or intervention to snap out of it - and it has to come from the government policy sector.

The Cabinet has to literally go back to the drawing board. They have been fiddling along and being completely irresponsibly inconsistent over the past 8 or 9 years.

Dr Iraj Abedian, chief executive for Pan African Holdings

Listen to Dr Abedian explain what needs to be done to snap the economy out of low confidence phase:


Recommended

by NEWSROOM AI
Read More
Wits Nehawu members down tools over salaries

Wits Nehawu members down tools over salaries

Nehawu Wits acting secretary Tumisho Madihlaba says negotiations with management deadlocked resulting in a strike.

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

Former Eskom interim CEO Sean Maritz under fire for signing off R400 mil payment

‘Documents show that the fee contract was entered into by Anoj Singh & signed off by the acting CEO Sean Maritz' - Chris Yelland

‘Qedani Mahlangu helped people die then she ran away’ – Stephen Grootes

‘Qedani Mahlangu helped people die then she ran away’ – Stephen Grootes

Stephan Grootes shares his views on the events that unfolded at Life Esidimini and comments on Qedani Mahlangu’s apology.

Metrorail train derails due to vandalism on the central line

Metrorail train derails due to vandalism on the central line

The Central line was set to resume services on Thursday but has been postponed due to vandalism at Heideveld and Netreg stations.

Hawks Mulaudzi neither confirms or denies reports about possible Guptas arrests

Hawks Mulaudzi neither confirms or denies reports about possible Guptas arrests

Hawks spokesperson confirmed working closely with the NPA but cannot disclose cases it is working on until people are charged.

May the Fourth be with you, a celebration of Star Wars Day

May the Fourth be with you, a celebration of Star Wars Day

May 4 marks "May the Fourth be with you," Day celebrated by fans George Lucas' fans of his Star Wars global movie franchise.

Popular articles
Former Nedbank Chair Reuel Khoza opens up about money, farming and music

Former Nedbank Chair Reuel Khoza opens up about money, farming and music

The Money Show’s Bruce Whitfield interviews Khoza about his attitude and beliefs about money (plus successes and failures, etc.)

Everything you know about success is (mostly) wrong

Everything you know about success is (mostly) wrong

Allon Raiz on “Barking up the Wrong Tree: The Surprising Science behind Why Everything You Know about Success Is (Mostly) Wrong”.

[LISTEN] Father shares how he shot the man who raped his daughter

[LISTEN] Father shares how he shot the man who raped his daughter

Johannesburg father, Chris says he had just come back from work when he walked in on an employee raping his 17 year old daughter.

Bokke can become a world-beating squad - Ashwin Willemse

Bokke can become a world-beating squad - Ashwin Willemse

The former Springbok and current rugby commentator gives his perspective on Saturday's game against the All Blacks.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

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.

Competition Commission investigates five companies to stamp out price-fixing

Competition Commission investigates five companies to stamp out price-fixing

Commission says investigation into food and agro processing companies is important because of high levels of inequality in SA.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

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?