The one positive of this, even if some of it is depressing, is that there'll be life on the other side, writes Adriaan Basson.
Economists outline measures they say are urgently required to support and stabilise the economy.
A special package of R500 million has been set aside for trade finance, to import essential medical products to fight Covid-19, Minister of Trade and Industry Ebrahim Patel has said.
Firms found to be abusing the coronavirus crisis by charging consumers excessive prices for products could face penalties of R1 million or up to 10% of their turnover.
Governments around the world are scrambling to pass economic rescue packages as the impact of the virus severely constrains economic activity.
Contractor Murray & Roberts says it is too early to say what impact Covid-19 will have on its current financial year's performance.
The last time the interest rate was cut by a full percentage point in one meeting was in 2009, during the global recession.
While businesses, learning institutions and event organisers brace for Covid-19, power utility Eskom says it also has an action plan.
A rates cut might provide the stimulus needed to bolster the SA economy, but other reforms are still necessary, says an economist.
The 35 land port closures and two seaport closures are strictly to prohibit the movement of people, the movement of cargo will not be affected, Trade and Industry Minister Ebrahim Patel said.
South African business sentiment plunged to the lowest level in more than two decades in the first quarter and could weaken even further as the coronavirus hits the domestic and global economy.
SA may approach the IMF for the first time ever to help deal with the fallout from the coronavirus outbreak, the Sunday Times reports, citing Finance Minister Tito Mboweni.
National Treasury will explore introducing amendments to the appropriations bill to account for the reprioritisation of funds to fight Covid-19.
This comes as countries around the world scramble to pass economic rescue packages as the impact of the virus severely constrains economic activity.
Treasury says it is putting together an economic response package but has not yet released the plan.
The CEO of Business Leadership SA warns that, even if the country successfully curbs the spread of the coronavirus, its economic impact is bound to be dire.
The Reserve Bank is under pressure to help arrest the economy’s downward spiral.
The debate around South African interest rates has now moved from whether the Reserve Bank will cut on Thursday to by how much.
The South African economy will feel the impact of the coronavirus significantly because it was already dealing with its own internal crisis, including a "celling" on the rate at which it can grow because of electricity supply interruptions, Efficient Group chief economist Dawie Roodt said on Tuesday.
US President Donald Trump’s travel ban and tepid fiscal measures sparked the latest leg down in risk assets.
South Africa enters a new week battered on the economic front. The rand has weakened significantly since the country confirmed its first coronavirus diagnosis and two other subsequent cases over the weekend, reaching a low of R15.67 on Sunday.
Cape Town Southern SuburbsLiberty Financial Advisers
BellvilleTumaini ConsultingR300 000.00 Per Year
R 4 500 000
Apartments / Flats
R 9 950 000
R 3 300 000
We subscribe to the Press Code.
You choose what you want
News24 on Android
Get the latest from News24 on your Android device.
Terms and Conditions
24.com Terms and Conditions - Updated April 2012
Creating your profile will enable you to submit photos and stories to get published on News24.
This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.