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The South African rand plunged more than 2% following the report. Gross domestic product in Africa's most developed economy fell by 0.7% from April to June, the national statistics agency said in ...
In South Africa, Dondo Mogajane, the Director-General of the National Treasury, has warned that South African economy could contract by 12% and that one-third of the workforce could be affected by the coronavirus as a result of the economic fallout of the COVID-19 pandemic. [11]
The COVID-19 pandemic in South Africa was part of the pandemic of coronavirus disease 2019 caused by the severe acute respiratory syndrome coronavirus 2 ().. On 5 March 2020, Minister of Health Zweli Mkhize had confirmed the spread of the virus to South Africa, with the first known patient being a male citizen who tested positive upon his return from Italy. [4]
The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...
The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
On 5 March 2020, the first confirmed case of COVID-19 was announced in South Africa, by a passenger returning from Italy. This resulted in President Cyril Ramaphosa declaring a national state of disaster on 15 March 2020 and the implementation of the national lockdown beginning on 26 March [ 148 ] [ 149 ]
JOHANNESBURG (Reuters) -South Africa may be entering a fifth COVID wave earlier than expected after a sustained rise in infections over the past 14 days that seems to be driven by the BA.4 and BA ...