SA's deficit to leapfrog to around -10.8 per cent GDP

Lots of scary economic issues are all coming to a head at once, globally.

Peter Attard Montalto, from Intellidex, is on the line from London.

We have very limited room for a domestic stimulus.

We've now adjusted our expectations to minus two-point- three, that's even worse than 2009.

Peter Attard Montalto – Intellidex

There are discussions going on I think particularly from the banks about what can be done to help stimulate the economy.

Peter Attard Montalto – Intellidex

For South Africa, the real challenge here is for an economy that has not saved for a rainy day in fiscal terms, that has not done the structural reforms, that should have been done to accelerate the economy - those systems are not in place. I think it does mean a Moody's downgrade.

Peter Attard Montalto – Intellidex

Listen to the full sound clip below.

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning.

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
'SA not going to have a recession, but a fundamental depression'

'SA not going to have a recession, but a fundamental depression'

Busa's Martin Kingston, Standard Bank Chief Economist Goolam Ballim and Rand Merchant Bank market strategist John Cairns weigh in.

World-renowned futurist on how the world will change after Covid-19

World-renowned futurist on how the world will change after Covid-19

Faith Popcorn is a US futurist who coined the term 'cocooning' - something we are all ordered to do now.

SA Reserve Bank to buy government bonds to inject liquidity into market

SA Reserve Bank to buy government bonds to inject liquidity into market

In an unprecedented step, the Reserve Bank is buying government bonds.

Nehawu to go ahead with march despite ban on gatherings

Nehawu to go ahead with march despite ban on gatherings

Union's secretary-general Zola Saphetha says they are looking at ways of avoiding the risk of contamination.

[WATCH] Granny has a message for those panic buying

[WATCH] Granny has a message for those panic buying

Khabazela shares some of the videos that went viral on Twitter and Facebook.

Wedding planning business faces massive complexities with the 100 people-limit

Wedding planning business faces massive complexities with the 100 people-limit

Any gathering of more than 100 people has been banned to limit the effect of the coronavirus on South Africans.

Popular articles
#Lockdown: How to assist family members who are addicts, especially alcoholics

#Lockdown: How to assist family members who are addicts, especially alcoholics

Substances disorder specialist Dr Duncan Laurenson shares what you can do if you are in lockdown with an addict.

Academics propose special COVID-19 grant for low-income earners and poor

Academics propose special COVID-19 grant for low-income earners and poor

Wits senior lecturer Lumkile Mondi is one of the academics and he explains exactly what it is they are calling for.

More than 20 cases of misconduct lodged with Ipid, military ombudsman so far

More than 20 cases of misconduct lodged with Ipid, military ombudsman so far

Ipid spokesperson Sontaga Seisa says their services are available and communities should report any form of misconduct.

New screening and testing initiative aimed at fighting COVID-19 underway

New screening and testing initiative aimed at fighting COVID-19 underway

Department of Health deputy director-general Dr Yogan Pillay says fieldworkers have been deployed to townships such as Alexandra.

KZN families rendered homeless despite moratorium on evictions -  Abahlali

KZN families rendered homeless despite moratorium on evictions - Abahlali

The Department of Justice has committed to looking into the matter.

Can we save the 2020 academic year? Minister Angie Motshekga believes we can

Can we save the 2020 academic year? Minister Angie Motshekga believes we can

The basic education minister says her department is working on a plan that will ensure that upcoming holidays are used for learning.

Gauteng Health Department suspends hospital visits

Gauteng Health Department suspends hospital visits

Only emergencies, surgical and medical outpatients as well as pregnant women and those collecting medication will be allowed.

Absa explains COVID-19 debt relief programme

Absa explains COVID-19 debt relief programme

Bank spokesperson Songezo Zibi says customers who have not received the SMS can call the bank directly.

OUTsurance commits R102 million to support COVID-19 efforts

OUTsurance commits R102 million to support COVID-19 efforts

OUTsurance is helping South Africa out in its greatest time of need.

 Backstreet Boys singing 'I want it that way' at different locations goes viral

Backstreet Boys singing 'I want it that way' at different locations goes viral

Khabazela shares some of the videos that went viral on Twitter and Facebook.