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…
