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Experts welcome reopening of the economy

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Economists and industry experts say although President Cyril Ramaphosa has announced that the country will move from alert Level 3 to 2 of the lockdown, the damage has already been done.

They, however, say the further opening up of the economy is welcome news.

The ban on tobacco and alcohol sales has been lifted.

There have been mixed reactions from industry experts with some saying the economy should have been opened earlier to decrease job losses.

Most economists warn that the country is already in deep economic trouble and even if South Africa moves to Level 2, it will not be sufficient to save companies nor jobs.

Businesses are calling on the government, labour and the community to continue to work together to find a sustainable solution to resuscitate the economy.

Implementation of government strategies

Trade and Industrial Trade Policies Executive Director Saul Levin says government now needs to start implementing economic policies that will help improve the lives of South Africans and strengthen the economy.

He says one focal point, among others, is the development of infrastructure in rural communities, in informal settlements and townships.

Levin says small businesses also need to be provided with funding to run their businesses.

He adds that the current measures to prevent loss of income such as the Temporal Employee Relief Scheme have been critical in preventing retrenchments at some companies.

Source: SABC News


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