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South Africa's GDP shrunk by 7% in 2020, mainly due to strict lockdown restrictions

South Africaโ€™s economy contracted by 7% in 2020 reflecting the full impact of the Covid-19 pandemic and the strict lockdown. In the fourth quarter of 2020, however, it posted growth of 1.5%, giving an annualised growth rate of -6.3% said Stats SA on Tuesday. Stats SA released its 2020 fourth quarter and full year GDP results. The agency stated that these results follow the revised 13.7% (annualised: 67.3%) rise in economic activity recorded in the third quarter. Statistician-General Risenga M...
South Africa Risenga Maluleke Morapedi Mashashe Bureau For Economic Research General Risenga Maluleke General Risenga
Source: news24.com

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