The Financial and Fiscal Commission says the latest ratings downgrade, coupled with the Covid-19 pandemic have weighed down all prospects for an economic turnaround in 2020.
The commission says various forecasts are pointing to a bleak future.
It added that the Covid-19 crisis has caused unprecedented disruption to the socio- economic landscape
of South Africa.
In a briefing to the Appropriations' Committee, the Commission said this has forced government to make difficult choices between protecting lives, livelihoods and economies.
In addition the FFC says the coronavirus has turned the February 2020 budget upside down.
This is coupled with an increase in the need to deal with health challenges, deliver on essential services, protect households against wage and livelihood losses, and protect businesses against falling markets."https://scontent-jnb1-1.xx.fbcdn.net/v/t1.0-0/s526x296/100957992_3205978292787866_74042453044232192_n.jpg?_nc_cat=108&_nc_sid=110474&_nc_ohc=aDQ1UrY0dUkAX-oLDry&_nc_ht=scontent-jnb1-1.xx&_nc_tp=7&oh=22ee08deabe56bf9c3dc53e0f4391163&oe=5EF377A0"
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