The South African Property Owners Association put the total cost to GDP at R50-billion.
The impact on consumer, business and investor confidence is even harder to gauge, but early signs are that retail will take a big hit, with most of the looters targeting shopping centres and retail sites, and many stores remaining closed even after the violence had simmered down at the end of last week.
“The most immediate and direct impact on GDP will be the loss of household consumption and industrial production in KZN and, to a lesser extent, Gauteng over the past week,” said the Bureau for Economic Research.
SA GDP to contract significantly: Bureau for Economic Research
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Are stricter lockdown regulations on the cards as COVID-19 infections rise? Two weeks ago, President Cyril Ramaphosa announced a 14-day level 4 lockdown adjustment and with infections showing no signs of slowing down, there s speculation it could be prolonged. President Cyril Ramaphosa during his address on 27 June 2021 where he announced the country would be moving to adjusted alert level 4 as the third wave of coronavirus pandemic grips the country. Picture: GCIS
9 hours ago
CAPE TOWN – While the national coronavirus command council (NCCC) is scheduled to meet on Sunday, it remains unclear whether stricter lockdown regulations will be extended.
As the COVID-19 caseload increased, the President announced an alcohol sales ban and a 9 pm curfew two weeks ago.