GDP SHRINKS TO 7%
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South Africa’s economy contracted the most in a century in 2020 as restrictions to curb the spread of the coronavirus pandemic ravaged output and disrupted trade.
GDP shrank 7%, compared to a 0.2% expansion in 2019, according to a report released by Statistics South Africa on Tuesday. That’s the biggest decline since 1920, when output dropped by 11.9% during the two-year post-World War 1 recession, central bank data shows. Gugulethu speaks to Dr Nthabiseng Moleko of Stellnbosch Business School.
GDP shrank 7%, compared to a 0.2% expansion in 2019, according to a report released by Statistics South Africa on Tuesday. That’s the biggest decline since 1920, when output dropped by 11.9% during the two-year post-World War 1 recession, central bank data shows. Gugulethu speaks to Dr Nthabiseng Moleko of Stellnbosch Business School.
