Covid-19 Business Watch
WATCH: SA endures record GDP plunge
Michael Avery talks to a panel about SA’s second-quarter GDP contraction
SA’s second-quarter GDP contracted by a record 51% quarter on quarter, and 16.3% year on year. The unavoidable fact is that SA is in a deep economic crisis. Basic services are under strain, local government has been hollowed out by cadre deployment, corruption is rampant and public debt is a runaway train threatening to smash into the hopes of the National Development Plan in a few years from now unless something is done about the lack of reform implementation.
One bright light on the horizon is the government’s newfound commitment to infrastructure to catalyse growth. ..