The outcomes of the ANC national executive committee meeting, during which economic recovery plans are expected to take centre stage, will dominate the headlines this week.
SA’s strict lockdown, which was intended to curb the spread of Covid-19, shut down most economic activity, leading to a sharp drop in output and employment. The GDP figures for the second quarter released in September showed the economy shrank 51% on an annualised basis, or -16.4% if not annualised. Stats SA figures show that SA shed 2.2-million jobs during the second quarter, with the expanded unemployment rate increasing to 42% from 39.7%.
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