The world is changing fast and to keep up you need local knowledge with global context.
We knew Covid-19 had shattered the economy, but the scale was only laid bare this week when Statistics SA revealed that Gross Domestic Product has plunged by more than 50%. As graphs produced by Kevin Lings, chief economist at Stanlib, demonstrate, every sector of the economy collapsed in the second quarter – except agriculture.
Covid-19 pushed South Africa over an economic cliff. But as the bar charts show: the country was already in a perilous situation.
For more, do visit BizNews.com.
PS: You’re in for another treat. This week on The Alec Hogg Show: Meet Nick Hudson, who has been taking on the Covid-19 modellers whose erroneous forecasts persuaded the government to implement a strict lockdown. Listen here.
Thank you for this.
Was it the Covid 19 Virus disease, or was it the Government intervention/ actions/ insistence on a (excessive) Lockdown period, that has caused us to ‘lose’ half of our GDP (or most of that sum)?
PANDA and others, appear to be of the view that the Virus disease in itself, did not / was not (on it’own) the cause of our, (SA’s) Financial Losses.
We all realise that poor or gross ‘mis-management’ by the ANC Government of the Economy and SOE’s put S. Africa in a critical Economic/ Financial position – Prior to Covid 19 landing on our shores. Their mis-management appears to have continued unabated, during the Lock-down period,aswell.
What is your view, based upon what you have read and heard?
Please keep up your good work in keeping us appraised of events and the causes and consequences .
I look forward to hearing from you.
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