Answer to Question #276576 in Microeconomics for Ntando

Question

2.5. Explain the economic impact of COVID 19 on the South African economy (20)

Answer 1

In total, these economic restrictions in South Africa have far-reaching consequences. The 'Quick' recovery scenario results in a GDP fall of around 5% by the end of 2020, an economic outcome that would have been regarded catastrophically disastrous just over a month ago.