The balancing act of saving lives, livelihoods and economic revival

SOUTH AFRICA - Forecast 04 Feb 2021 by Iraj Abedian

As the global economy starts to recover from the catastrophic impact of the COVID-19 pandemic, countries are faced with the challenge of managing the second wave of infections and securing vaccines for the virus. The latter is already exposing the fact that the road to recovery will be uneven and for some countries will leave permanent scars. The International Monetary Fund (IMF) estimates that the global economy will contract by 4.4% in 2020, before recovering to 5.2% in 2021. The economic recovery is not without its challenges: global debt has risen to historically high levels, with a number of countries (particularly in Sub-Saharan Africa) left unable to stimulate their economies through fiscal policy. Against this backdrop, this review reports on the economic activity and data points released for South Africa in the last quarter of 2020, with a view to paint a picture of what the country’s 2021 canvas looks like.

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