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iAfrica 6 days ago 4 min read
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South African companies are slowly but steadily starting to claw their way out of the economic quagmire left by the Covid-19 pandemic.
Recent figures from Stats SA show that turnover increased in seven industries between the third and fourth quarters of 2020, namely real estate and other business services; community, social and personal services; construction; manufacturing; transport, storage and communication; and mining and quarrying.
Total turnover of these industries in the fourth quarter was estimated at R2.81-trillion – an increase of 8.4% compared to the third quarter of 2020.
Yet the reality remains that the pandemic has left a devastating trail in its wake.
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International Standardisation A Vital Gateway For SA Exports To Grow And Trigger Local Economic Revival Date
As much as
President Cyril Ramaphosa has emphasised the need for South Africans to “buy local” to boost the country’s ailing economy, exports remain crucial to government’s turnaround strategy.
Most economists agree that the Covid-19 pandemic has scotched government’s plan to achieve a primary budget surplus by 2025-26, with the GDP growth rate forecast to only trend at 2.1% in 2021.
Investment will be key to the country’s Economic Reconstruction and Recovery Plan.
In addition to negotiating deals to procure vaccines for SA, Ramaphosa has been spending much of his time identifying opportunities for international trade.
iAfrica 4 mins ago 6 min read
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As much as President Cyril Ramaphosa has emphasized the need for South Africans to “buy local” to boost the country’s ailing economy, exports remain crucial to government’s turnaround strategy.
Most economists agree that the Covid-19 pandemic has scotched government’s plan to achieve a primary budget surplus by 2025-26, with the GDP growth rate forecast to only trend at 2.1% in 2021.
Investment will be key to the country’s Economic Reconstruction and Recovery Plan.
In addition to negotiating deals to procure vaccines for SA, Ramaphosa has been spending much of his time identifying opportunities for international trade.