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Economist: 'SA likely to start new year on wobbly footing'

That's despite lower oil prices which are likely to have a positive impact on inflation.

The Sandton CBD in Johannesburg. Picture: Aki Anastasiou/EWN

CAPE TOWN - As the year ends, experts say the country's economy is likely to start the new year on a wobbly footing.

That's despite lower oil prices which are likely to have a positive impact on inflation.

Economist Azar Jammine has flagged trade union activity, uncertainty in the run-up to elections and the possibility of a drought as three of the key issues South Africa will face in 2019.

Jammine says many investors are likely to be skittish ahead of next year's general elections.

“You’re going to see a lot of political rhetoric that will hype people into destroying some of their confidence in the economy.”

Increasing investors' unease is an upsurge in union activity, especially in the mining and manufacturing sectors.

“A lot of it has been violent and I think that has to be detrimental to those particular sectors.”

Jammine is also concerned about the possibility of a drought in the northern regions of the country, that could severely affect the agricultural sector.

On the upside though, a lower oil price means ordinary South Africans should feel some relief in their pockets for the next few months at least.

(Edited by Mihlali Ntsabo)

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