Let me start by stating the obvious: the Covid-19 crisis has been devastating to our economy. Two million people have lost their jobs, the economy will shrink by 8% this year and government revenue is expected to fall by 14%. This is the crisis that an economic recovery plan must confront. It is unprecedented in our lifetimes.
The economic recovery plan that President Cyril Ramaphosa presented last week sets out a series of steps that, on paper, will go far in kickstarting growth. But, as is often said, South Africa is good at making plans but bad at implementing them.
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