Impact of Covid-19 in the South African Economy
Coronavirus has caused a negative impact in the South African economy By: Karabo Xaba Twitter: Mpenduloenhle Karabo Email: kxaba54@gmail.com South Africa has been affected negatively by the strike of Covid-19. On the 23 of March 2020 President Cyril Ramaphosa announced the 21 days lockdown in order to contain the spread of the coronavirus. Source: Google The announcement of the lockdown played a huge role in forcing businesses to close and led to millions of people losing their jobs. According to Census 2022, during the country’s Coronavirus lockdown South Africa’s economy lost 2.2 million jobs in the second quarter of 2020. According to the Census 2022, the amount of money the national government collected overall in taxes declined from R1 385 billion in 2019–2020 to R1 290 billion in 2020–2021, a drop of R95 billion was discovered.