BIG PICTURE
Finance Minister Tito Mboweni delivered his 2021 Budget address last week against the backdrop of a sharp economic contraction as a result of the lockdown actions taken since the advent of the Covid-19 pandemic in South Africa. The slump has triggered record levels of unemployment, as well as a rise in poverty and inequality. As part of his big-picture response, Mboweni emphasised the central role that the vaccination programme will play in creating the basis for a full reopening of the economy. More challenging will be placing the South Africa on a higher growth trajectory once that health platform has been laid through a the mass vaccination roll-out.
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