Cabinet reshuffle will make South Africans poorer- economist

Standard Bank CEO Sim Tshabalala, representing the CEO Initiative, says President Jacob Zuma's decision to reshuffle his Cabinet will make it difficult for the South African economy to grow to the expected percentage.

If there are shocks to the system we perceive a potential slowdown in growth and therefore an adverse effect on jobs.

Sim Tshabalala, Standard Bank CEO

If the prices in the financial markets continue on this trend, it will make individuals poorer. The price of bread over time will increase, price of petrol and price of homes.

Sim Tshabalala, Standard Bank CEO

Economist Peter Attard-Montalto says international markets may see the removal of Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas as an attack on Treasury.

Listen to the audio below for more economic analysis...


This article first appeared on 702 : Cabinet reshuffle will make South Africans poorer- economist


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