South Africa economy could contract 8.2% if second COVID-19 wave hits, OECD says

PUBLISHED: Fri, 31 Jul 2020 12:38:35 GMT


JOHANNESBURG (Reuters) – South Africa’s economy could contract 8.2% this year and grow just 0.6% in 2021, if it is hit by a second wave of coronavirus infections that also affects major trading partners, the OECD said on Friday.

If a second wave of infections is avoided, the economy will probably contract 7.5% in 2020 before rebounding 2.5% next year, the OECD said in its latest report on Africa’s most industrialised economy.

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