Open the economy, avoid more poverty- economist
Efficient Group chief economist Dawie Roodt says it is important for the government to open the economy as soon as possible to avoid more people falling into poverty.
Roodt was speaking on Thursday at a briefing hosted by the Institute for Race Relations (IRR).
It has been 14 days since the nationwide lockdown, with only essential businesses such as pharmacies and supermarkets operating.
"We have to get this economy growing as soon as possible. I think the first reaction by the president was the right decision, but now we have more information and we understand the mortality rate so I do believe we need to open this economy as soon as we can. Because it will lead to a huge increase in poverty," said Roodt.
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Roodt predicts that the economy will contract by 6% in 2020.
"If the economy contracts by 10% or more we will probably lose in a region of about 1 million jobs, in fact slightly over a million jobs. Unemployment is likely to go up to say 11 million people by the end of this year.”