Economic effects of unrest could linger for about 18 months, says Godongwana
Business sentiment was negatively affected and investment stalled, affecting the economy’s competitiveness, finance minister tells MPs
The effect on GDP of the looting and destruction in KwaZulu-Natal and Gauteng in July could linger over the ensuing six quarters, finance minister Enoch Godongwana said during his first appearance in the National Assembly on Wednesday.
But he cautioned that it was too early to give accurate figures, which would only be revealed in the GDP figures for the third quarter to be released by Stats SA. The Treasury has predicted that the unrest will shave less than one percentage point off GDP in 2021. ..