Don\u2019t be fooled into thinking the global market turmoil experienced this week won\u2019t hurt you personally, warned an economist on Wednesday.<\/p>\n
\u201cThis is not something happening in a far-off country somewhere or in the virtual world of the financial markets,\u201d said Dawie Roodt, who is the director and chief economist of the Efficient Group.<\/p>\n
\u201cThis is something that is going to hit you where it really hurts and that\u2019s in your pocket.\u201d<\/p>\n
Speaking to News24Live via Skype, Roodt warned that South Africans would experience a rise in their cost of living. He said the cost of labour will go up, your mortgage will increase and inflation will go up because of the weaker currency.<\/p>\n
On top of the global financial crisis, South Africa has recorded a 1.3% contraction in GDP in the second quarter.<\/p>\n
\u201cThat is really disappointing,\u201d he said.<\/p>\n
\u201cIf you\u2019ve got a job, be grateful, because a lot of people are going to probably lose their jobs,\u201d he said.<\/p>\n
\u201cWage increases are not going to keep pace with inflation and food prices are going to go up.\u201d<\/p>\n
Fin24<\/a><\/p>\n Don\u2019t be fooled into thinking the global market turmoil experienced this week won\u2019t hurt you personally, warned an economist on Wednesday.<\/p>\n","protected":false},"author":35,"featured_media":96313,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1459,1740,26],"class_list":["post-96855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-dawie-roodt","tag-economy","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/96855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=96855"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/96855\/revisions"}],"predecessor-version":[{"id":96857,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/96855\/revisions\/96857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/96313"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=96855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=96855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=96855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}More on the SA economy<\/h3>\n
99 days of load shedding in 2015 hits SA economy hard<\/a><\/strong><\/h3>\n
Why President Zuma is wrong on the economy<\/a><\/strong><\/h3>\n
Weak economy is apartheid\u2019s fault: Zuma<\/a><\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"