As if being a country with its back against the wall as it fights the highly contagious Delta variant of the coronavirus is not challenging enough, SA has been hit with something of a double whammy as it sees its competitiveness relative to other countries plummet.
In 2020, in response to the Covid-19 pandemic, the government released a reconstruction and recovery plan that seeks to rebuild the economy in a more equitable manner that allows it to meets the needs of all its citizens. The plan strives for an economy that will create enough jobs for all who seek employment, provide a more equitable distribution of income among all South Africans, and generally create a better life for all.
The drop in SA’s world competitiveness since the onset of the Covid-19 pandemic is significant in a period of just two years given that the competitiveness of a country, as a long-term measure of a country’s ability to create lasting value for its enterprises and citizens, would typically be expected to change gradually over time.
While the pandemic did not indiscriminate by country or region, what marked the winners and losers in the developing country environment was the ability of policymakers to ensure local economies continued to be competitive, while simultaneously putting measures in place to limit lasting economic and social damage.
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