These graphs show some of the ‘worst case’ scenarios for South Africa – according to government
South Africa’s National Treasury expects job losses, tax losses and a contracting economy due to the coronavirus pandemic and the lockdown to halt its spread.
The finance minister will only present an adjustment budget, which accounts for the impact of the pandemic and economic relief measures, in June or July, according to Treasury and tax officials who briefed lawmakers on the potential impact of the virus on Thursday 930 April).
Here are some of the key points they presented:
South Africa’s economy could contract by as much as 16.1% this year, depending on how long it takes to contain the coronavirus pandemic and for the economy to recover to the end of 2020, Treasury estimates showed.
“We have to move quickly to get the economy back to normal, but also take into account…