KEVIN LINGS: Green shoots for SA’s growth
There have been six positive developments that can be catalysts for an improved economy, if the authorities take advantage of them.
Prior to 2020, SA was already on a weak footing, both economically and socially. Unfortunately, the Covid-19 outbreak at the beginning of that year exacerbated the situation.
Despite the government’s efforts to limit the economic impact of the outbreak, such as introducing a R500bn fiscal relief package, the economy was brought suddenly to a near stop during the year. As a direct result of the Covid-19-related lockdowns, SA’s GDP contracted by about 7.2% in 2020, according to the 2021 budget speech presented by finance minister Tito Mboweni on February 24. The Stats SA “Labour Force Survey” for the fourth quarter of 2020 showed the official rate of unemployment had climbed to 32.5%...
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