Although consumers can expect some relief at the petrol stations, the South African economy will take much longer to recover, cautions Roxanne Webster, director in the business rescue, restructuring & insolvency sector at Full-service law firm Cliffe Dekker Hofmeyr (CDH).
Webster said that the Covid pandemic has left the country in an economic crisis with inflation growing rapidly, rising interest rates, and record-high unemployment rates.
This begs the question of whether our economy is…