The Covid-19 pandemic is cutting a swathe of economic devastation across the world; an unprecedented global recession is now upon us. Unfortunately, SA, which was already in recession when Covid-19 hit, will not get away lightly.

The second quarter of 2020 will mark a huge step-down in economic activity, with only a gradual and partial recovery afterwards given likely permanent firm closures, worker layoffs and impaired balance sheets...

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