South Africa imposed a strict lockdown aimed at limiting the spread of the virus on March 27. In the long-term, the South Africa GDP is projected to trend around 320.00 USD Billion in 2021 and 345.00 USD Billion in 2022, according to our econometric models. GDP in South Africa is expected to reach 295.00 USD Billion by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa GDP per capita is projected to trend around 7080.00 USD in 2021 and 7200.00 USD in 2022, according to our econometric models. The National Treasury expects gross debt-to-GDP to likely peak at 87.4% in 2023-24 under an “active” management scenario that it is pursuing.Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.A Gautrain train carriage passes the central business district Pretoria, South Africa.South Africa’s biggest business grouping proposed 12 key focus areas that could add 1 trillion rand ($59 billion) to gross domestic product and help the economy overcome the damage wrought by the coronavirus pandemic and restrictions to curb its spread.The proposals are being made with Africa’s most industrialized economy expected to contract between 8% to 10% in 2020, the business group said.
That’s despite some lockdown measures to contain the spread of the pandemic that remain in place.South Africa's economic outlook will worsen if a second wave of the virus hitsConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.These are some of the OECD’s recommendations:People gather on a street corner in the Central Business District (CBD) of Johannesburg.To protect lives and minimize the risk of a second wave that could potentially lead to another large-scale lockdown, the OECD recommends further testing, tracking and isolating those infected. Source: Organization for Economic Co-operation and DevelopmentIf a double-hit scenario can be avoided, the OECD still sees the economy contracting by 7.5%, worse than the government’s forecast of 7.2%.Even when growth returns, rising government debt and policy uncertainty will hold back investment and limit economic growth, the organization said. To improve expansion prospects “supporting the economic recovery in the short-run while undertaking reforms to increase potential long-run growth is key,” the study says.A renewed wave of coronavirus infections in October and November remains a possibility and that could also slow the recovery next year, limiting 2021 economic growth to 0.6% instead of 2.5%, the Paris-based organization said Friday in a survey about South Africa. The South African GDP contracted 0.1% year-on-year in the first quarter of 2020, following a 0.5% decline in the previous period and compared with market expectations of a 0.8% fall. Monique Vanek, Economy seen contracting 7.5% if double-hit is avoided OECD ... 2020, 12:01 AM EDT
South Africa has struggled to emerge from a n economic slump in the two years since Cyril Ramaphosa became president, promising sweeping reforms. South Africa imposed a … The private sector should help finance and develop economic infrastructure in a regulated and competitive environment.
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