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.
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