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South Africa economy expands 4.6% in Q1In the first quarter 2021, inventories once again had to be drawdown as there was a slow start to the year in manufacturing. |
While the restriction on large gatherings is welcome, vaccines are needed urgently to stem the bleeding of the South African economy.
The summit focused on four areas – Covid response, economic development, energy security and water resilience.
Recovery is expected to continue albeit at a much slower pace, experts say.
South Africa had one of the earliest and most severe national lockdowns in the world.
Household consumption expenditure accounted for 61.7 per cent of the economy in the second quarter.
South Africa seems to have passed the peak in the number of cases with the daily Covid-19.
The OECD said that a sound growth strategy could deliver quick wins in terms of job creation and potential growth.
The sharp drop in economic activity adds to long-standing challenges and raises the urgency of structural reforms.
Such emergency loans could be used to finance direct expenses such as procuring protective gear for health workers.
