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.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now