7 game-changers for the path to economic recovery
The ‘Absa Business Day Supplier Development Dialogue’ series was hosted online on May 26 2020
The Covid-19 pandemic is the biggest disruption to the global economy and has forever changed the business landscape. Experts agree that a global recession is imminent and is due to last for a while. Even the world’s healthiest economies now face negative growth rates, and developing economies find they lack the financial resources to accelerate recoveries.
SA, in particular, is already experiencing a recession due to pre-existing financial stressors, and the SA Reserve Bank forecasts that the economy will shrink by 7% in 2020. Bleaker estimates from Business 4 SA (https://www.businesslive.co.za/bd/national/2020-05-06-business-for-sa-urges-urgent-opening-of-economy-to-avoid-jobs-bloodbath/) have said the decline could be between 10% and 16.7%, depending on how quickly SA’s economy reopens. ..
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