SIX successive shocks over the past three years have cost South Africa’s economy as much as R850 billion, according to estimates from the department of trade and industry.
Between early 2020 and the third quarter of last year the economy was upended by two global and four local crises that manifested in quick succession, Trade, Industry and Competition Minister Ebrahim Patel said.
The cumulative output lost to the South African economy as a result is estimated at between R650 billion and R850 billion, he said at the release of his department’s Industrial Policy & Strategy Review report. – Bloomberg