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Recession hits, recovery next?

机译:Recession hits, recovery next?

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摘要

In common with the rest of the world. Southern Africa - defined by this article as Angola, Botswana, Lesotho. Malawi, Mozambique, Namibia, South Africa, Swaziland, Zambia and Zimbabwe - and its construction industry has been hit hard by the Covid-19 pandemic, but the region has also faced its own particular set of challenges. The pandemic has led to the regions first recession in decades and the largest economic contraction on record as many of the countries in Southern Africa rely heavily on tourism and selling materials made from extractive industries, from mining and quarrying. Covid decimated tourism globally and also, for a period of time, reduced the world's demand for petrol and oil. Phis has recovered somewhat, but demand is still below pre-pandemic levels. The region's largest economy, South Africa, saw Gross Domestic Product (GDP) contract by 2.9 in 2020. While a modest recovery has occurred, with growth in the last few quarters, the economy is estimated to be at least 1.4 smaller than before the pandemic.

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