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FILE: Workers from Hemel en Aarde restaurant in Hermanus take part in the million seats on the streets protest on Wednesday, 22 July 2020. Picture: Supplied.

Sa recession

COVID-19 wrecks plans to reboot ailing SA economy

By Theto Mahlakoana

Development economist at the University of Stellenbosch Business School, Dr Nthabiseng Moleko, described the economy as reaching desperate times in 2020.

  • President Cyril Ramaphosa. Picture: GCIS.

    Pressure on Ramaphosa to jump-start economy as SA sinks deeper into recession

    The president reacted after Stats SA revealed the most recent GDP results, which showed the country had slipped deeper into recession during the nationwide lockdown.

    614 days ago
  • By Dr Jack & Curtis.

    CARTOON: What Next?

    By Dr Jack & Curtis.

    760 days ago
  • FILE: Finance Minister Tito Mboweni addressing the media prior to his annual Budget speech on 20 February 2018 in Cape Town. Picture: EWN

    Mboweni optimistic of rapid upswing in economic growth after deep recession

    Finance Minister Tito Mboweni doesn't doubt that COVID-19 would further deepen the country's economic downturn.

    761 days ago
  • Picture: pixabay.com

    Rand falls as economy faces deep recession

    The central bank projects that the economy will contract 6.1% in 2020, while the International Monetary Fund forecasts a 5.8% dip.

    761 days ago
  • SA's technical recession explained in 120 seconds

    South Africa’s gross domestic product (GDP) has expectedly contracted by 1.4% in the fourth quarter of 2019, pushing the country into a technical recession, Statistics SA announced on Tuesday. This is the second consecutive drop after the economy failed to show any signs of positive growth in the quarter before, making it a technical recession. A full recession refers to two quarters of recession, combined with a year-on-year decline GDP.

    803 days ago
  • FILE: Cosatu members march in Cape Town. Picture: Kaylynn Palm/EWN

    SA’s shrinking economy needs urgent intervention, says Cosatu

    The trade union federation was among a range of organisations and lobby groups making submissions at Parliament during public hearings on the budget.

    803 days ago
  • Picture: pixabay.com

    Proposed wage bill cut could adversely affect the economy, says analyst

    The country’s economy slipped into a technical recession after a decline in GDP of 1.4% in the fourth quarter of last year. Overall growth for 2019 was dismal at just 0.2%.

    803 days ago
  • President Cyril Ramaphosa speaking during an engagement at Tuynhuys in Cape Town with the SA National Editors’ Forum (Sanef) and the parliamentary Press Gallery Association on 3 March 2020. Picture: @PresidencyZA/Twitter

    Ramaphosa: SA will be affected by the coronavirus

    President Cyril Ramaphosa has warned that the underlying weakness in South Africa's economy could be further aggravated by global economic uncertainty amid the spread of the coronavirus.

    803 days ago
  • President Cyril Ramaphosa addressing a media briefing on 11 December 2019 on the latest spate of power cuts in the country. Picture: Kayleen Morgan/EWN

    Eskom’s inability to provide electricity may lead to recession - Ramaphosa

    Mines and other big businesses had to suspend operations this week, following Eskom's implementation of stage 6 load shedding, with economists warning of dire consequences for the country's GDP.

    886 days ago
  • Picture: Pixabay.com

    Security companies offer safety tips amid load shedding

    Director of Excellerate Services Security Gary Tintinger said there had been a spike in reported criminal incidents over the last few days.

    887 days ago
  • President Cyril Ramaphosa, Reserve Bank Governor Lesetja Kganyago and Deputy Daniel Mminele with IMF's Christine Lagarde. Picture: @SAgovnews/Twitter.

    [WATCH LIVE] Kganyago, Lagarde briefing on SA economy

    IMF managing director Christine Lagarde and Reserve Bank Governor Lesetja Kganyago had a meeting where they discussed this country’s economic situation.

    1244 days ago
  • Picture: Pexels

    South Africans warned to spend wisely in wake of fuel price drop, Q3 growth

    Stats SA on Tuesday announced a 2.2% increase in the third quarter Gross Domestic Product.

    1258 days ago
  • Picture: EWN.

    Stats SA: Growth in agriculture sector helps get SA out of recession

    Statistics South Africa (Stats SA) says gross domestic product (GDP) for the third quarter expanded by 2.2% quarter on quarter.

    1259 days ago
  • Picture: Pixabay.com

    SA records third quarter GDP of 2.2%, lifting country out of recession

    South Africa suffered two successive quarters of negative growth - and the third-quarter numbers are a welcome relief for the country.

    1259 days ago
  • Treasury’s Director-General Dondo Mogajane. Picture: @SAgovnews/Twitter

    Treasury: Recession, falling revenue dent SA’s public finances

    DG Dondo Mogajane said Treasury was preparing to implement structural and regulatory reforms to enhance growth.

    1308 days ago
  • A PicknPay store. Picture: @PicknPay/Twitter

    Pick n Pay H1 profit jumps 19% as price cuts lure buyers

    The country’s second-biggest grocery store chain reported profit before tax of R670.2 million for the six months ended August, compared with R562.8 million same period last year on a normalised basis.

    1308 days ago
  • President Cyril Ramaphosa congratulates new Finance Minister Tito Mboweni after being sworn in on 9 October 2018. Picture: Cindy Archillies/EWN

    [LISTEN] Mboweni to have positive effect on economy. Here's why

    Victoria Reuvers, a senior investment consultant at Morningstar Investment Management, says the appointment of Mboweni is a positive move for the country and its economy and will have a great effect on the state of the market.

    1313 days ago
  • New Finance Minister Tito Mboweni. Picture: Cindy Archillies/EWN

    [LISTEN] Analysts: Mboweni’s appointment a positive step for economy

    Political analyst Somadoda Fikeni says the appointment of Tito Mboweni as Finance Minister is a positive step for the economy.

    1314 days ago
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