Country Economic Forecasts > South Africa

Deep economic contraction ahead but fiscal concerns increasingly coming to the fore

Indications are that measures to contain the Covid-19 pandemic have been effective in combating the spread of the virus, but the economic implications will be severe. We expect a 7.2% GDP contraction this year followed by a 4.2% recovery in 2021. After being praised for timely and decisive action to prevent the initial spread of Covid-19, public sentiment has steadily soured as focus shifts towards the haphazard and seemingly arbitrary manner in which the government plans to get the economy going again.

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