Dawie Roodt: How the coronavirus is influencing the global economy

CAPE TOWN – Economist Dawie Roodt has given his insights on how the coronavirus has impacted the global economy.

Roodt was invited on Jacaranda FM on Tuesday morning. He spoke on “Breakfast with Martin Bester” and illuminated South Africans on the markets crashing due to coronavirus.

It has been estimated by a number of UN economists that the coronavirus and its continuing outbreak may cost the global economy between $1- and $2-trillion this year.

It has also been suggested that a number of developing countries will be forced into a recession. The South African economy contracted by 1,4% in the fourth quarter of 2019, following a contraction of 0,8% (revised) in the third quarter. Transport and trade were the main drags on overall activity, according to the latest gross domestic product (GDP) figures.

RAND CRASHES