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Browsing: United Nations Development Programme
South Africa’s declining GDP is expected to set back efforts to address unemployment, poverty and inequality according to a new United Nations Development Programme study on the socio-economic impact of COVID-19 in South Africa by at least five years.
The gross domestic product (GDP) of South Africa is expected to 5.1 per cent and 7.9 per cent in 2020 and recover slowly for at least the next four years.
The study was launched by Dr Nkosazana Dlamini-Zuma South Africa’s Minister of Cooperative Governance and Traditional Affairs.
The study focused on how COVID-19 will drive temporary and long-term changes in poverty levels in the country. According to the study, the number of households below the poverty line will increase as households fall from the lower middle class.
As South Africa’s 6-month stimulus packages come to an end, 54 per cent of households that have been pushed out of the permanent job …