Source: Ed Stoddard, Business Maverick, 10 January 2021 (the article first appeared in Daily Maverick 168), photo credit: The Economist Intelligence Unit
South Africa’s fragile economy is already off to a stumbling start in 2021. The economy began 2020 mired in recession and the hard lockdown imposed in late March triggered a contraction of 51% on an annualised basis in the second quarter.
The relaxation of lockdown regulations saw a 66% rebound in the third quarter (Q3), but a lot of ground remains lost. Estimates generally peg the 2020 contraction at between 8% and 10%. With renewed lockdown measures, the return of load shedding, mounting debt and shattered confidence, the outlook for 2021, with a few exceptions, is bleak.
Here are five key factors to look out for this year that will have an impact on the economy, your bank account and your best-laid plans.
The South African Pork Producers’ Organisation (SAPPO) coordinates industry interventions and collaboratively manages risks in the value chain to enable the sustainability and profitability of pork producers in South Africa.