Covid-19 has become a menace to the world. From the European countries to the African countries. It has taken a toll even to the economically stable giants in the world. In the African continent, south Africa today, just like the other countries is in battle with the disease. Its statistics reveal a total of 159,333 cases. Out of these, 2,749 succumbed to death, 76,025 have recovered, leaving a total of 80,559 still fighting the virus. Meanwhile, major events are taking place in the country amidst this pandemic and you definitely ought to be on the know.
The events happening In South Africa today unfold as follows;
Call to reject
If there is one thing that is keeping the south African country awake during this pandemic is the state of its economy. Recently the finance minister Tito Mboweni issued an emergency budget designed to cushion the country owing to the spread of the virus. However, 100 economists, academics and finance experts called on the government to overrule the guidelines, stating that the economy they seemingly want to protect will only cripple in the end. Instead of the enormous budget cut of R250 billion, the professionals suggested that that increase in the government spending should be the way forward. This would be funded through the taxes or increased borrowing.
Gauteng crisis
The health sector daily gets to be overwhelmed by the rising numbers of covid-19 patients. Resources needed to help doctors and nurses are gradually depleting and it even gets harder to attend to the severe covid -19 patients. However, Gauteng seems to be on the lookout as it is registering massive numbers. It has since been reported to be the epicenter of these enraging pandemic.
Government winning
Well, the government’s efforts to revive its economy by all means necessary including lifting the lockdowns are proving worthwhile. This is in relation to the court cases that the government has recently been granted several wins. These includes the cases of reopening the economy and the fight to unban cigarette sales.
Insurers sweating
Insurance firms are facing 500 insurance claims from its clients who own various business that were recently closed down due to the covid-19 virus. Most of these businesses are in the hospitality and tourism sector. These rejected insurances have piled up to amount to a total of R4 million. This number is set to rise, as the lockdown continues to be in place for quite some time now. This number proves to be cumbersome for even the insures to deal with hence the hard ships they are facing are quite ambiguous for them to even chip in for their customers.
Markets
Covid -19 just added to the list of problems that south Africa was experiencing. Report says before the pandemic the country was facing a contraction in its economy. With covid-19, the situation at hand is even worse. The economy is in fact, in its third quarter of contraction. The currency is slowly declining. As of Thursday reports, the Rand was at R17.03 to the dollar, R21.27 to the pound and R19. 18 to the Euro.
More:
- Police Brutality in South Africa
- South Africa Government Finally Responds To Poor Neighborhoods
- Coronavirus Disease Developments in South Africa
