How much could Covid-19 impact the SA economy?
In declaring a national state of disaster on Sunday evening, President Cyril Ramaphosa made it clear how seriously the government views the threat of the coronavirus. He also acknowledged that this is not simply a question of the nation’s health:
“In addition to the impact that this pandemic will have on [the] health and well-being of our people, and the impact it will have on the day-to-day life of our society, Covid-19 will also have a significant and potentially lasting impact on our economy,” Ramaphosa said.
Given the already weak state of South Africa’s economy, this is something the country can ill-afford. The president, however, noted that cabinet is putting together a “package of interventions to mitigate the impact”.
“This package, which will consist of various fiscal and other measures, will be concluded following consultation with business, labour and other relevant institutions,” said Ramaphosa.
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