Economic lockdown: Who are the winners and losers?

The Covid-19 pandemic and subsequent economic and social lockdowns have had a negative impact on the world economy, the extent of which has not been seen since the Great Depression.

This large budget deficit will result in the deterioration of SA’s debt-to-GDP ratio from 63.5% to 81.8%;A R300 billion revenue collection shortfall is expected.Statistics SA recently released the unemployment rate for the first quarter of 2020 according to the quarterly labour force survey. This figure has breached the 30% barrier and is recorded as 30.1%.

Conversely, the deepest contraction on the JSE has been within the financial sector, which has not recovered from the decline it experienced in March and April. These share price indicators provide a yardstick to measure how well each sector is performing, and this is directly linked to how employees have been affected within these industries.

Pension funds and other financial instruments are presently navigating an economic minefield as they seek to guard against or limit losses in the present environment.Share-based long-term incentive schemes will also be affected by the negative performance on the JSE. Typically, long-term incentive share schemes either offer full shares or appreciation shares .

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