An Assessment of the Covid-19 Pandemic in South Africa: From its Impact on the Economy to the Rebuilding Strategy
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Authors
Mandlazi, Mario
Nyasha, Sheilla
Mandlazi, Mario
Issue Date
2023
Type
Article
Language
en
Keywords
Coronavirus , Covid-19 , Economy , South Africa , Government support programmes , Rebuilding Strategies
Alternative Title
Abstract
The conventional understanding is that the coronavirus pandemic (Covid19) has challenged the development of the economies at all levels – global,
regional and domestic. The need to assess its damage to the South African
economy became imperative if the economy has to be resuscitated in an
informed and targeted way. The study therefore aimed at assessing the impact
of the Covid-19 Pandemic in South Africa, assessing the effectiveness of the
South African government response to Covid-19 and outlining government
strategies that have been employed in an effort to rebuild the South African
economy. The study utilised the qualitative research approach in which semistructured interviews were used to collect information on a purposive sample
of 12 participants. Through the use of thematic analysis as the data analysis
method, the study discovered that the Covid-19 pandemic has both long-term and short-term impacts on the South African economy such as loss of
employment, contracting GDP, depressed growth below pre-pandemic
projections and lack of organisational performance. In response to Covid-19,
the government introduced supporting programmes to businesses, regulations
aimed at allowing credit facilities and partnership with various stakeholders.
Strategies such as expansionary monetary strategies and the introduction of
specific programmes targeting the resuscitation of key economic sectors have
been implemented to rebuild the economy. The study, therefore, recommends
that the government needs to build a buffer of resources in preparation of
devastating pandemics such as Civid-19, such that when the country is hit by
the pandemic, there are avenues that can be explored to resuscitate the
economy. There is also need to ensure that there is a platform where business
organisations can flourish as they can access capital and resources.
Description
Citation
Mandlazi, M. & Nyasha, S. (2023).“An Assessment of the Covid-19 Pandemic in South Africa: From its Impact on the Economy to the Rebuilding Strategy”. Annals of Spiru Haret University. Economic Series, 23(4), 441-476, doi: https://doi.org/10.26458/23425