ISAAH MHLANGA: Treasury and private sector must pull out all stops to prop up economy
Amid the virus outbreak, Treasury could grant tax exemptions to some companies, which would help save jobs
Given what we know now — that there is to be a near complete lockdown of company operations and movement of people — SA’s GDP will probably contract as much as 4% in 2020 due to Covid-19.
This will result in about 1.7-million jobs lost, concentrated largely in manufacturing (940,000); transport (300,000); mining (230,000); electricity, gas and water; and business services. GDP growth cannot be saved, but some jobs can, in some highly uncertain conditions.