Business for SA urges urgent opening of economy to avoid jobs bloodbath
The quicker the economy reopens, with health and safety precautions in place, the less severe the damage to growth and employment, B4SA says
06 May 2020 - 17:37
Business for SA (B4SA) called for an urgent reopening of SA's economy as it warned that as many as 4-million jobs could be lost due to the Covid-19 crisis, with economic activity taking three to five years before returning to pre-crisis levels.
The grouping, formed to support government's efforts to deal with the health, labour and economic impact of the outbreak, said economic modelling showed that GDP could shrink between 10% and 17% in 2020, depending on the length and severity of the lockdown...
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