JOHN MANYIKE | It's near impossible to forecast with any certainty what awaits South Africans beyond the national lockdown. The only certainty at this stage is that things will not be as they were before.
While investors have been expecting it for some time, Moody's recent downgrade of SA to junk status has added more salt to the wound. It cited SA's inconsistent power supply, poor economic growth as some of the reasons.
SA has for some time seen very weak growth. According to Old Mutual, the economy is likely to record -5.7% real GDP growth in 2020, tipping the budget deficit to -12%. Prolonged contraction will lessen employment opportunities in an already depressed labour market. Unlike developed countries where breadwinners tend to provide for their nuclear family, in SA extended family members depend on a small number of breadwinners.
If younger people understood this, they would realise it's not just their own lives they are putting at risk when they break lockdown rules.
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