According to the Bureau for Economic Research (BER) the forecast for the month ahead does not look well at all. The financial experts believe that the current Level 4 lockdown restrictions will be extended beyond the provisional deadline of Sunday, 11 July – because of the impact of the Delta variant.
In a statement released early on Monday, the BER noted the negative impact the Level 4 lockdown restrictions have already been responsible for, namely: Sun International having to close some of their operations and Comair grounding all their flights for the next three weeks.
They added that the daunting data can not be ignored, “Besides the severe impact it is having on the health sector, the upcoming week’s COVID stats should influence whether the government decides on an extension of the 2-week adjusted Level 4 regulations. Given the progression of the third wave since the measures were announced, we think that most, if not all, of the current restrictions will be extended.”
“While it is too early to tell whether the restrictions helped in limiting the spread of COVID cases, the direct impact of the restrictions, the third wave and subsequent changes in consumer/firm behaviour on businesses is already apparent.”
The BER group are now insisting on an extension of the UIF/TERS scheme.
“Any extension of the Level 4 restrictions will make it even more essential that the UIF/Ters scheme of income support for workers in the sectors hardest hit by the restrictions is speedily reactivated. This has received support from business and labour. Such measures won’t impact the stretched public finances as the UIF has funds available.” | BER statement.
Sources: The South African
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