South Africa cannot afford to close the economy in the draconian way the government has done so as part of its national lockdown measures.
This is the view of economist Mike Schussler, who was presenting on the impact of COVID-19 on pensions and the South African economy.
Schussler said the local economy was already in a dismal state prior to the coronavirus outbreak and subsequent lockdown.
The lockdown, especially with the government’s very strict measures, will push South Africa further into an economic crisis.
Schussler said South Africa’s lockdown is far stricter than most other countries, with some of the current rules downright petty.
He said very few countries closed all non-essential production during lockdown, which raises questions about the government’s decision to do it here.