South Africa’s coronavirus lockdown measures, some of the strictest in the world, have earned praise from groups including the World Health Organization [WHO] for saving lives – but at the same time, recent data could prove some analysts’ claims that its economy has been largely “destroyed.”
The country’s statistician-general announced this week the gross domestic product [GDP] has slumped 51% in the second quarter of this year. Investment specialist Andrew Lapping quoted South Africa’s National Treasury as predicting up to 7 million could lose their jobs, out of a formal workforce of just over 10 million.
So many have lost their jobs that Johannesburg’s normally clogged highways now see mostly free-flowing traffic, even during rush hour.
A salesman for one of the largest car auction showrooms, now full to the brim with vehicles for sale, told Fox News they have stopped taking luxury vehicles from desperate owners “because few have