In this podcast Dr Neryvia Pillay Bell, a Policy Associate at ERSA and Senior Economics Lecturer at the University of Cape Town, discusses how South Africa’s labour market and the government budget have been negatively affected by the COVID-19 pandemic. With economic growth expected to decrease by 6%, unemployment levels are likely to rise significantly. Fortunately, the R500 billion fiscal stimulus, which is 10% of GDP and therefore one of the largest fiscal stimulus packages worldwide, will alleviate much social distress that otherwise would have occurred. South Africa is not alone in bearing the burden of an increased government deficit and becoming more reliant on domestic production. Having a phased reopening of the economy specific to geographical area will keep production going, while a focused approach to testing will mitigate the spread of the pandemic. With insights into the education sector, food security and more on the above, you do not want to miss this podcast.
The beat used in this production, called ‘Resolutions’, is royalty free and can be found at freebeats.io and the photo is by Clay LeConey and can be found on Unsplash.