As South Africans started to breathe a little easier as the domestic GDP started to recover, they were dealt another hefty blow.
‘A looting shock to SA’s economic recovery’. This is what economists at the Bureau of Economic Research at Stellenbosch University, call the shock of events over the past week. The cost of the unrest will only be quantified in a few weeks, if not months, but the researchers say the economy has been (and will be) affected.
Along with the Covid third wave and the harsher lockdown restrictions, the unrest and looting will put significant strain on economic activity at the start of the third quarter of 2021, with gross domestic product (GDP) set for a large contraction.
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