SA’s economy has been suffering fundamental deterioration since the beginning of the Zuma administration in 2009 and has actually been in recession since 2015 when measured by the decline in income per capita.

In recognition of this trend, the country’s sovereign risk credit rating has been downgraded by four steps during this period, to junk status. SA’s problems are now compounded by the coronavirus lockdown, which will certainly flatten the economy, even if it does not flatten the infection curve...

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