Economist: COVID-19 to ignite SA and global recession
An economist says the coronavirus outbreak will see a number of countries follow South Africa and slip into recession.
Graeme Kerner says the unexpected COVID-19 outbreak will see the country’s economy slide backward.
He believes the pandemic will have widespread affects, potentially plunging economies in Europe and the US into a recession.
"The global economy will experience a broad recession in 2020. In the first half of the year it will mainly be China and Japan", he said.
"In the second half of the year we will then see the impact in the US and some countries in Europe, but we as SA will not be able to escape this", Kerner said.