Saskia Schuldig from 1-grid states that the 2020 budget speech raised concerns for various sectors upon the announcement of South Africa’s third recession since 1994.
According to Statistics SA, the economy contracted by 0.8% in the third quarter and 1.4% in the fourth-quarter of 2019. Various businesses may feel the pressure of success; profitability and satisfied employees. Statistics SA noted that businesses in the Transport and Communications; Construction; Agriculture; Manufacturing and Electricity and Gas supply sectors will particularly feel the pinch.
