Covid-19 knocks SA economy, but there is hope

Covid-19 knocks SA economy, but there is hope

Adderley Street flower sellers, Cape Town. Picture: Pinterest

The government bailout to business might not make an impact in alleviating the plight of SMMEs, one expert said.

South Africa’s growth shrunk by 1.4% in the fourth quarter of 2019 on the back of a 0.8% contraction in the third quarter, thus pushing South Africa into a technical recession. Therefore, the coronavirus crisis could not have emerged at a more stark period. But it is not all doom and gloom, according to two economic analysts who have reacted to measures announced this week by President Cyril Ramaphosa in response to the virus, which by yesterday infected 554 people in South Africa. While Ramaphosa should be credited “for taking active measures aimed at containing and stopping the further spread...




today in print