PREMIUM!
Impact of virus will hurt economy for months to come
The economic impact of the coronavirus will stay with us for much longer than the virus itself, with one expert predicting a recession unlike any we have ever seen.
Lockdown impact evident in shopping transaction volumes.
The 21-day lockdown period may lead to a newfound respect for our food producers.
Last week Capital Economics forecast a 2.5% contraction for the SA economy this year as a result of the impact of Covid-19. This was before President Cyril Ramaphosa announced a 21-day lockdown and the mass closure of businesses. It now seems the 2.5% contraction is on the optimistic side.
Two recent publications by the Bureau for Economic Research (BER) at Stellenbosch University show that the outlook for the SA economy was already bad in the first quarter of 2020, even before the widespread panic around the spread of the coronavirus.
The coronavirus pandemic has sent stock markets into freefall and industries to the wall, however many firms enabling more private, online and tech-based living are emerging as potential winners.

Business Insight Covid-19: A new environment for insurers and claimants

After the likely spike in insurance claims arising from the COVID-19 pandemic, insurers are likely to introduce new or change existing exclusionary clauses which were not previously considered to be necessary.





 

 


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