The economy continues to slow down as the inflation spikes
July 21st, 2022.
"Macroeconomic and geopolitical conditions have slowed down the economy to a point where an increase in the cost of living has risen by an average of 8 percent and the economy is close to entering a recession perhaps as early as this year." Group Chariman, Dustin Paul Wilden stated in one of his recent speeches.
The global financial and economic landscape, is today in a perilous nose dive which has affected the general global supply chain, with its effects being felt largely by the consumer.
Gross Product Demand in various industry sectors of energy, aviation and food commodities has drastically risen over the past 4 months, which coherently has added pressure on governments to forge sustainable solutions to curb and control the inevitable economic crisis.
Furthermore, with the rising inflation spiraling out of control, we have witnessed a significant rise in petroleum commodity prices which inadvertently are forecasted to affect a significant decline in, leisure travelling and travelling in general. Political intervention is needed to solve the challenges ahead.
The need for strategic partnerships between governments and the private sector in the form of Business to Government, Public Private Partnerships and Foreign Direct Investments, cannot be over emphasised as these partnerships serve to ensure sustainability and preservation of economies.