Gross domestic product in South Africa shrank by more than half from April to June compared with a year earlier, battered by the impact of the coronavirus pandemic, the country’s statistics agency said.

“South Africa’s economy contracted by 51% in Q2 2020” compared with the second quarter of 2019, Statistics South Africa said.

The unprecedented fall came after a strict lockdown, imposed on March 27, caused most economic activity to cease.

Details later…

(AFP)

I pity Ramaphosa okonjo iwella would destroy their economy just like what she did in Nigeria.

Cyril Ramaphosa, appointed Mrs Okonjo-Iweala as a member of his country's presidential economic advisory council.

The whole world is in recession. But here in Nigerian everyone just want to call the Dog (Buhari) a bad name just to hang him by the neck. South African is dealing with the after effect of lock down, every countries has a story to tell.

kolaaderin:
The whole world is in recession. But here in Nigerian everyone just want to call the Dog (Buhari) a bad name just to hang him by the neck. South African is dealing with the after effect of lock down, every countries has a story to tell.

Its not the same thing abeg ..Every incompetent inept leader now wants to hide under COVID ,Buharis Economy had already shrunk by half before COVID and unemployment / insecurity / inflation was at an all time record high before we even knew what COVID was ..It's was so bad Buhari bullied the NBS into hiding the unemployment stats for 3 years only allowing them to release a month ago because it was now convenient to blame it on COVID ...

ogododo:
Gross domestic product in South Africa shrank by more than half from April to June compared with a year earlier, battered by the impact of the coronavirus pandemic, the country’s statistics agency said.

“South Africa’s economy contracted by 51% in Q2 2020” compared with the second quarter of 2019, Statistics South Africa said.

The unprecedented fall came after a strict lockdown, imposed on March 27, caused most economic activity to cease.

Details later…

(AFP)

It was expected even though the numbers are scary. The country had the toughest and longest lockdown in Africa. It's now time to rebuild.

WannaHowzit:


It was expected even though the numbers are scary. The country had the toughest and longest lockdown in Africa. It's now time to rebuild.

Lalasticlala, Africa giant de collapse!

ogododo:

Lalasticlala, Africa giant de collapse!

Everyone is suffering, especially countries closely integrated into the global economy. If everyone is dropping then things remain the same either way. The trick will be how quickly each one rebounds.

Look at America.