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Business Tuesday, March 3, 2020 Comments (0)

South African Economy Slumps into Recession

SA's already struggling economy goes into shock recession. The GDP statistics show that the economy shrank by 1.4% in the last quarter of 2019. Although this was an improvement from .8% in the last quarter, it wasn't enough to put the country on a course of growth. South Africa has already been struggling for quite a while, blaming its economic affliction on some factors. Notable factors include political instability, corruption & ill reforms. 

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Coronavirus Takes Its Toll on World Economy

It's no secret that COVID-19 is already affecting a wide range of industries. This includes automobiles, safety eyewear & PPE, agriculture & many others. As the world economy slows down, many developing countries will continue to suffer from declining exports. Experts have already predicted that coronavirus could take us back to the horrors of the 2008 financial crisis.

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