As of now the South African economy is inversely proportional to the Novel Corona Virus. While positive cases and death toll for Covid-19 continue to rise, the South African rand continues to depreciate every day.
What do we know?
The economy of South Africa has lately been falling steadily and at a sustainable rate. However, the narrative has changed all of a sudden.
1. Covid-19 has shown down the economy
2. Moodys reduced the economy to junk status
3. Major government parastatals are sinking in debt.
These amongst other factors have crippled the economy. As of today, the Rand is trading at over ZAR19.00 per US$1.00. Who knows what the future holds? Food for thought!
This article was also posted on Parrotrelease.com