As the world economy hurtles towards a sharp and punishing recession, economists are slashing SA’s growth forecasts for the year with a full-year contraction for 2020 now almost certain.

With a growing global consensus that the Covid-19 crisis could be deeper than the 2008 global financial crisis, SA’s acutely fragile fiscal position signals grave dangers ahead and is likely to see the debt burden accelerate, tax revenue fall further and borrowing conditions for government and state-owned enterprises become a lot tighter...

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