Support will haunt consumers
The fact that the government has by artificial means supported the fuel price to keep it well below the 23c-25c a litre that had been expected will come back to haunt consumers in months to come says economist Dawie Roodt. “There is a set formula that the energy department and economists use to calculate the […]
South Africa’s Technical Recession Unpacked
South Africa is in its first technical recession in nine years. Stats SA announced on Tuesday that the country’s real gross domestic product contracted by 0.7% in the second quarter of 2018. This follows a revised fall of 2.6% in the first quarter of the year. CEO of Debt Rescue Neil Roets told Radio Islam […]
South Africans feeling recession in their pockets
Govt’s petrol price ‘gift’ will come back to bite us – experts
Johannesburg – Monday’s intervention by the Energy Department to keep fuel prices unchanged for September, except for 4.9 cents a litre on petrol to cover a previously agreed pay rise for forecourt workers, will come back to haunt motorists over the next few months, says economist Dawie Roodt. “There’s a set formula,” he explained, “that […]
Effects of government’s petrol price intervention
Government’s petrol price intervention Government’s petrol price intervention could mean even higher prices in October and beyond: Dawie Roodt Government’s ‘artificial’ support for the fuel price, to counter the 23-25 cents a litre increase that had been expected, will come back to haunt consumers in months to come, says economist Dawie Roodt. The department of […]