The recovery of SA’s fragile economy will be a long and hard slog once the Covid-19 pandemic has either stabilised or run its course.
B4SA has warned that the recovery of SA’s economy could take longer than two years because the domestic economy was already weak at the start of 2020 – a period before the highly contagious virus was imported into the country. B4SA’s GDP forecast is in line with the 8% contraction projected by the International Monetary Fund, which has thrown SA a $4.3-billion emergency loan to mitigate the social, health and economic effects of the Covid-19 pandemic. As the economy and business activity slow down, B4SA also expects further job losses of about 1.5-million by the end of 2020.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK ANALYSIS: Dollar’s diminishing safe-haven status is a benefit to emerging marketsInvestors have been rushing to the sanctuary of gold and alternative safe-haven currencies instead of the dollar, which reached a 22-year low. Low US bond yields, political uncertainty ahead of the elections and concern about the difficulties the US is having in getting the pandemic under control are all weighing on the greenback.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Life after the pandemic: Kumba approves R7bn mine expansion projectEven amid the Covid-19 pandemic and global economic turbulence, companies are allocating capital to expansion projects. Kumba Iron Ore, a unit of Anglo American, has announced approval of funding for its R7-billion Kapstevel South project at the Kolomela mine in the Northern Cape province. This underscores Anglo’s commitment to South Africa.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: R16.5bn to make the R135bn Steinhoff headache go awaySometimes it’s better to cut your losses and run. This is what Steinhoff’s board is hoping aggrieved shareholders will do. One shareholder is not taking the bait.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Old Mutual to Move Zimbabwe Listing as Currency War EscalatesOld Mutual Ltd. is poised to stop trading its shares on the Zimbabwe Stock Exchange, the latest step in the government’s efforts to bring order to its chaotic foreign-exchange market.
Source: dailymaverick - 🏆 3. / 84 Read more »