Tag: economy

The best was left for last. If what is promised in the end really happens, we will have a real prospect of desperately needed prosperity and jobs. If we really get reductions in spending and debt, market barriers down by 50%, a seriously reprioritised Budget, release of superfluous air waves spectrum, unbundling of Eskom, private power generation and the like, we will be a freer economy. Freer economies – as measured by the Economic Freedom of the World Index – always and everywhere prosper.

On Tuesday Stats SA announced that SA’s GDP had contracted 51% between April and June (using annualised quarter on quarter numbers – in other words, this is a 17% decrease for the quarter) as a result of the lockdown imposed in response to Covid-19. The contraction was shocking – but not unexpected. Given that government took the decision to implement one of the harshest and longest lockdowns globally, the severity of the economic contraction should not come as a surprise.  

Business travel will have an important role to play as the global economy recovers from the massive knock-on effect of COVID-19. The US and the Eurozone experienced record-breaking declines of 32.9% and 40% in GDP, respectively, in the second quarter. And, although the extent of South Africa’s economic downturn has yet to be established with the official GDP figures only being released in a few weeks, we know the impact in our country has been severe.

Business for SA (B4SA) has called for South Africa to proceed quickly to lockdown level 2, lest deeper, and longer-lasting harm be caused to an already crippled economy.

The phased or risk-adjusted approach to lift the current national lockdown is welcome news for the agricultural sector, especially those industries mostly affected by the Covid-19 lockdown.

The Covid-19 crisis has brought much of the world economy to a sudden stop. Millions upon millions of people are in lockdown across the world, preventing them from working, buying, producing and selling goods and services. Global and local supply chains are interrupted, and small and large companies see a collapse in income. Households are under similar pressure.

South African President Cyril Ramaphosa delivers the 26th State of the Nation address – full text.

Winning the rugby World Cup has shown what South Africans can do if they put aside differences and work together. What can we do to allow the spirit and courage that the Springboks displayed on the rugby field to spill over into the hearts and minds of all South Africans?

The first quarter GDP growth of 2019 for South Africa announced 4 June, and it is once again a negative number. The numbers are showing that the South African economy contracted 3.2% year on year, following a 1.4% growth in the previous period. It was the sharpest decline in the GDP since the first quarter of 2009, as output declined sharply in manufacturing, mining, agriculture and utilities.

Ramaphosa delivers positive 25th State of the Nation address - full text.