S African economy has shrunk sharply by 51%

15:30 - 8.09.2020

September 8, Fineko/abc.az. A tightened quarantine regime imposed because of the pandemic may destroy the economy of another country.

ABC.AZ reports that the country in question is South Africa. Thus, the country's GDP decreased by 51% in the 2nd quarter of 2020 versus the 1st quarter. In the 1st quarter of this year the S African economy shrank by 1.8%. Over 4 consecutive quarters the S African economy has shrinked, and experts do not assess its outcome as good.

They believe that if this continues, the country may be in a state of bankruptcy.

By Elmir Murad

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