It is estimat that half of the total wealth is in the hands of the richest percentage of the population; the richest % own at least % to % percent of the wealth. As a consequence of the lack of structural changes, the economic situation in South Africa was precarious even before the pandemic. The unemployment rate has always remain high; in the fourth quarter of it was . %. Poverty is widespread. In , . million people, . % of the population, liv below the official poverty line. In female-head households, the proportion was significantly higher than in male-head households. A quarter of the population.
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Million people, liv in extreme poverty and could not afford enough food to meet their basic material nes. South Africa’s growth curve has been downward for more than ten years. Between and , economic Antigua and Barbuda B2B List growth averag just . %. In , the country enter a recession for the third time since . Various factors were responsible for this, including the global recession following the global financial crisis, falling commodity prices, deindustrialization, state capture ( read: systemic corruption), budget cuts, restrictive macroeconomic policy, and falling investment as a result of economic stagnation and unreliable electricity supply. More and more people find in the state an instrument for ruthless self-enrichment. State institutions are loot and empti.
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This reality is the breing ground for the acute governance crisis in South Africa. The combination of economic and political crises is causing confidence in the constitutional order to decline Aero Leads more and more. When the crisis caus by the coronavirus began, South Africa was already in recession. In April , President Cyril Ramaphosa announc a rescue package design to help workers, businesses and households during the pandemic. The package, endow with funds of more than , million dollars, was a light of hope for the country, but it quickly fad.
