The new coronavirus has knocked the stuffing out of the world’s economy. South Africa was in a recession even before the virus struck.
Then came the (final) credit rating downgrades in March and April, and then the global lockdown. South Africa’s economy is now expected to contract somewhere between 6% and 8% in 2020.
Whatever the number, contraction means that unemployment goes up, poverty increases, inequality worsens, human development is undermined, and social cohesion frays. How do we deal with this?