As the lockdown continues, fears for the economic system and the consequences it should have on peculiar individuals start to develop.
President Cyril Ramaphosa carried out a meeting with the National Economic Development and Labour Council on Friday morning.
According to the presidency, the meeting targeted on mitigating the economic impact of the Covid-19 pandemic and the resultant lockdown on South Africa.
The president heard views from authorities, labour, group and enterprise.
Ramaphosa carried out the meeting just about from his non-public residence in Johannesburg.
There have been dire predictions of economic catastrophe ensuing from the suspension of economic actions following the Covid-19 lockdown, some economists predict an 8-10% economic contraction for 2020.
Fears have been boosted by the uncertainty surrounding the size and scope of the lockdown.
Some economists have even predicted a attainable 300,000 deaths from poverty attributable to loss of jobs and revenue. This relies on Greece’s expertise after the 2008 monetary disaster when the economic system shrank by a couple of quarter.
The economists say there’s a correlation between a shrinking economic system and rising demise charges from a range of causes.
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live at 2020-04-19 11:58:51