SA economy will need 2 years to recover from Covid-19 outbreak

CAPE TOWN - Business for South Africa said on Tuesday that it expected the economy would take two years to get back to pre-Covid-19 levels.

Job losses were estimated at 1.5 million by the end of 2020. The national Covid-19 infection rate was expected to peak through August 2020, with daily mortalities peaking by late-August or early September. B4SA, with the Black Business Council, Business Unity South Africa, Business Leadership South Africa, Association for Savings and Investment South Africa, Banking Association South Africa and the Minerals Council, had formulated an economic recovery strategy.

She said the lockdown, and with employees working from home, was a stressful period for staff and business leaders, and the group was anticipating an influx of mental health claims.

Source: Financial Digest (financialdigest.net)

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