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Impact of COVID-19 on projected real GDP growth in South Africa 2020-2021

Following a worldwide trend, the coronavirus (COVID-19) pandemic is envisioned to affect negatively the economy in South Africa. As of June 2020, the GDP growth for the same year was revised to minus 7.5 percent. The review was done under the assumption that the outbreak persists to the end of 2020. Furthermore, considering the same scenario, the economy was expected to pick up in 2021, with the real GDP projected to grow by 1.3 percent.

Before the pandemic, GDP growth rates of 1.1 percent and 1.8 percent were estimated for 2020 and 2021, respectively. In regard to South African cumulative coronavirus cases, the country is the most hit in the continent, with more than 600 thousand cases as of September 2020.

Impact of coronavirus (COVID-19) on projected real GDP growth in South Africa in 2020 and 2021

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Source

Release date

June 2020

Region

South Africa

Survey time period

June 2020

Special properties

real GDP growth at market prices

Supplementary notes

Assumptions:
1) Baseline scenario: pandemic subsides in July 2020
2) Worst-case scenario: pandemic continues to December 2020

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Statistics on "Coronavirus (COVID-19) in South Africa"

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