EDITORIAL: That the economy could have been worse off is no consolation
The Covid-19 crisis means our leadership cannot continue with its wait-and-see approach
It says much about the situation in which the world finds itself that the reaction to confirmation that SA is in the middle of the longest recession in more than a decade was that it could have been worse. The bad news is that it will get a lot worse.
Depending on who is asked, the road to recovery is going to be a long one. Absa CEO Daniel Mminele told Business Day on Wednesday he was in the camp that’s looking at a time horizon of about three to five years. And that’s to get to where SA was before the Covid-19 outbreak, which could hardly be described as a boom. ..