The South African economy's buoyant start to the year is likely to be ruined by a combination of renewed Covid-19 containment measures and recent civil unrest, experts have warned.
on July 7 after being sentenced to 15 months in jail for failing to appear before an inquiry into corruption during his time in office, between 2009 and 2018.
"Moreover, the impact on poor communities will be disproportionate, since most looted stores and malls are close to townships. These communities will now struggle to find nearby groceries and supplies, even while Covid-19 lockdowns remain in place." Zuma's arrest deepened divisions within the ruling ANC party between the former president's loyalists and those on board with the agenda of his successor, President Ramaphosa. Besseling suggested that in order to deliver on his promised economic reform agenda, Ramaphosa will have to seize this opportunity to purge Zuma loyalists from his party and governance structures.
Economists are estimating that the cost to the national economy from the destruction caused by pro-Zuma protests is estimated at 50 billion rand . South African Police Services members arrest a looter at the Gold Spot Shopping Centre in Vosloorus, southeast of Johannesburg, on July 12, 2021.NKC revised down its economic growth forecast for South Africa in 2021 to 3.8% from 4.3%, and said the medium-term outlook is also hindered by falling investor confidence and a lack of fiscal space, which is expected to crowd out fixed investment expenditure.
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