South Africa has 116 cases of the virus that prompted the closure of schools, a ban on gatherings of more than 100 people. This has impacted the tourism and aviation sectors.
“We know we have our own growth problems even without COVID-19 then we have a global recession looming, China is talking about recession and China is one of our major trading partners.” Financial shares were worst affected. Many investors are fleeing to the US dollar as a safe haven. The price of oil has also continued to slip – with Brent crude trading as low as $26.37 a barrel. South Africa buys Brent Crude.Abedian says the government should encourage the banking sector and the Reserve Bank to offer rescue packages to businesses in order to keep the economy moving.
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And an appreciation of british pounds😭😭😭😭
If the whole world's economy is declining, is it really declining...? Or shifting?
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