Experts warn that elevated inflation & interest rates could lead to an unrest like the #JulyUnrest
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GUEST - Andrew Levy – Labour Economist
Financial advisory firm PwC warned that elevated inflation and interest rates are social risk factors and social cohesion in South Africa may break down. This warning was contained in PwC’s South Africa Economic Outlook in June, highlighting the potential for social unrest breaking out in the country. The firm has previously warned of potential social unrest due to South Africa’s high unemployment rate and large social cleavages. A report published late last year noted that the growing gap between the ‘haves’ and the ‘have-nots’ is a key driver for the decline in social cohesion in South Africa.
Financial advisory firm PwC warned that elevated inflation and interest rates are social risk factors and social cohesion in South Africa may break down. This warning was contained in PwC’s South Africa Economic Outlook in June, highlighting the potential for social unrest breaking out in the country. The firm has previously warned of potential social unrest due to South Africa’s high unemployment rate and large social cleavages. A report published late last year noted that the growing gap between the ‘haves’ and the ‘have-nots’ is a key driver for the decline in social cohesion in South Africa.
