South Africa’s economic output set to contract by more than 10%

south Africa’s economic outlook has worsened in the face of plans to lift limits on business activity very gradually over the next few months, muting the benefits of extraordinary measures taken by Treasury and the Reserve Bank to cushion the blow of a five-week lockdown.

A severe recession is expected, with some analysts predicting that the economy will contract by around 10% this year. Restrictions of varying degrees are set to remain in place until September, when the spread of the coronavirus in the country is expected