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Abstract:
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The 2020/21 quarter three Quarterly Economic Bulletin is presented during the
continuing mist of Covid-19, which is accompanied by the new waves of infections and
the recent emergency of the new omicron variant. The COVID-19 pandemic continues
to force government to act in a context of great uncertainty and under heavy economic,
fiscal and social pressures. Both the national and provincial government are continuing
to protect the health of the citizens and to limit the impact of the crisis on the already
ailing economy.
The global economic recovery continues amid a resurging pandemic that poses
unique policy challenges. Meanwhile, inflation has increased markedly in the United
States and some emerging market economies including South Africa. As restrictions
are relaxed, demand has accelerated, but supply has been slower to respond.
Although price pressures are expected to subside in most countries in 2022, inflation
prospects are highly uncertain. These increases in inflation are occurring even as
employment is below pre-pandemic levels in many economies, forcing difficult choices
on policymakers. |