Contraction In The Nation’s GDP In A Century
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The final GDP outcome of 2020 saw the worst contraction since 1920. Although South Africa was not alone, as all major developed and emerging economies (except for China that managed to record a 2.3% growth rate) contracted at unprecedented levels following the outbreak of the Covid-19 pandemic, the South African economy was already in recession when the trouble struck. Issa Mhlanga of Alexander Forbes explains.
