Business for SA sees GDP plunging up to 17% after lockdown
Projection dwarfs those that IMF and Moody’s made closer to start of the Covid-19 lockdown
The Covid-19 pandemic and the lockdown could cause SA’s economy to slump by almost 17%, a comprehensive modelling exercise by Business for SA (B4SA) shows in the gloomiest predictions so far.
B4SA is made up of Business Unity SA and the Black Business Council and was formed to respond to the Covid-19 crisis. It said GDP could drop between 10.3% and 16.7% in 2020.