2008 is already underway and many of us hope the New Year will bring with it renewed hoped and a better year than before. For us here in South Africa, we are going to have a very interesting year from the financial and economic point of view.

It looks like the target of having inflation to being between 3% and 6% may not be met in 2008 judging by the way things are going. Food prices and oil prices continue to rise not only in South Africa but across the whole word. With ever increasing inflation means ever rising interest rates. Will we get a rate cut in 2008? I do not think so, if anything the rates will continue to go up or at best stay at where they are.

Petrol prices may continue to rise with the ever increasing demand for oil across the world. A factor which we can hardly control ourselves in South Africa as we do not produce a lot of our own oil to meet our oil demand so thus we have to rely heavily on what the world oil prices are.

Now that we are in 2008, we edge even close to 2010 and even closer to the soccer world cup to be hosted in South Africa. Time is moving really fast in this regard and its now or never for businesses wanting to benefit from 2010 to start making concrete plans now.

2008 also brings us with a change in the political wave in South Africa. The ruling ANC party now has new leader in Jacob Zuma and it will be very interesting to see how the economy reacts to this change in leadership.

Happy New Year South Africa and let us hope we have a great 2008.

Subscribe

Sign-up to receive the latest updates from TheRandToday.com direct to your mailbox

Loading ...