South Africa's economy to see worst performance in 90 years | World News


JOHANNESBURG (AP) — South Africa’s economy is expected to decline by 7.2% this year, its worst performance in nearly 90 years, as the coronavirus pandemic takes a toll on sub-Saharan Africa’s most developed country.

This was revealed in an emergency budget delivered by Finance Minister Tito Mboweni on Wednesday, a day after the country’s statistics body revealed its unemployment rate had increased by 1% to 30.1%, its highest ever.

Mboweni proposed spending an additional $1.9 billion for COVID-19 related healthcare as the country’s coronavirus cases…



Source link

ACM
About Author: ACM
This information is 3rd party content that is added to ACM strictly for non-commercial informational purposes. Information is the Key to Set the Black Mind Free