SA's economy brought to its knees by incapable state - economist

SA's economy brought to its knees by incapable state - economist

Economist and CEO of Pan African Investment and Research Services, Dr. Iraj Abedian, has painted a grim picture of the state of the South African economy.

Inflation to continue easing over next few months - economist
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Abedian says the economy has been brought to its knees by the people in charge of the government.


He was speaking at a pre-State of the Nation event hosted by Defend our Democracy on Tuesday evening.


Thursday's State of Nation Address by President Cyril Ramaphosa comes amid ongoing rolling blackouts, high unemployment, crime and water supply issues among others.


It will be Ramaphosa's final SONA before the general elections.


Abedian said the capacity of the state's machinery has been weakened.


"No economy in history has ever managed to progress to sustain its growth and social development without a capable machinery of the state.


"It is a machinery of the state, the capability of the municipalities, government department, the professional manner in which policies are designed and implemented.


"In that sense, the real essence of the South African economy is a sad one," he said.


Abedian said the political machinery that has been governing over the past 15 years has also gone off the rails. 


"The damage to the economy has been done from the belly of the cabinet, which is very unusual, it is not about the ideological policy mismanagement or misunderstanding or having a specific wrong turns in policy.


"It is about consciously and in a coordinated manner, those who have been put in charge have been the destroyers of the public entities and infrastructure," he said.


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