Effects of Covid 19 on the South African Economy

Let’s rewind to February 2020, the South African economy was in a state of disarray. Two consecutive quarters of negative Gross Domestic Product growth signified a technical recession. The unemployment rate was hovering just below 30%. The estimates revealed in the 2020 Budget Speech indicated that we were teetering on the edge of a fiscal cliff. Within weeks, Covid-19 has turned the world on its head and fast-tracked a global slowdown that may turn out to be unprecedented. Covid-19 has already had an indelible effect on our values, expectations and hopes, as it infiltrates every crevice of economic activity. No business and no consumer — whether rich or poor, big or small — will be immune to the direct and indirect economic effects of the pandemic.To help us unpack all these we are joined by1. Dr Peter Karungu: Economist2. Regde Nkosi: Economist 3. Shaun Raudemeyer: CEO Multinet home loans