The Chief Economist at Old Mutual Investment Group, Johann Els, says the South Africa’s economy is already recovering, and will soon see better growth figures.

This, as the country recently migrated to level 2 of the national lockdown, which has seen a lot of economic activity resume across the country.

His reaction also follows the announcement this week, that the country’s GDP fell by just over 16%, between the first and second quarters of 2020, due to the national lockdown.

Els says a rate-cut might also be on the cards for South African consumers…

He says many of the country’s more robust economic sectors, have under level 2 of the lockdown, started producing again…

Els says the reality is that not all jobs lost during the national lockdown, will be recovered…

He says policy change is necessary, to lift the medium-term growth-profile of South Africa…