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GGH2601 PORTFOLIO
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GGH2601 PORTOLIO60325275
DECLARATION OF ORIGINALITY
Student name: S T KHOZA
Student number: 6032-527-5
1. I understand what plagiarism is and am aware of the University`s policy in this
regard.
2. I declare that this portfolio is my own original work. Where other people`s work has
been used (from printed source, the internet or any other source), this has been
properly acknowledged and referenced.
3. I have not used work previously produced by another student or any other person, to
hand in as my own.
4. I have not allowed, and will not allow, anyone to copy my work with the intention of
passing it off as his or her own work.
Signature: S T Khoza
Date: 01 June 2022
, Part 1
The coronavirus (COVID-19) pandemic is currently causing a significant adverse impact on
the global economy, with governments around the world implementing various fiscal
measures to mitigate its effects and provide relief for businesses and households. Within
Africa, the impacts of Covid-19 are being felt in different ways and the measures are taken
by the respective governments have also differed on the areas of focus and
comprehensiveness.
Africa has projected a GDP growth of about 3.2% for the year 2020 and is now expected to
fall to -0.8%. This is due to the enforced partial of the economies like tourism, travel, exports
and oil or fuel which brought down by the pandemic. And the outbreak has led to the
disruption in the various sectors, mostly notably the financial industry, tourism and hospitality
sectors. On the figure below you will find the mild and severe impact of the pandemic on the
GDP.
The falling in global demands of exports, slump in prices for major commodities like fuels
are the main concerns for Africa. There has also been a fall in Foreign Direct Investment
(FDI), which is more likely linked to the extractive sector and the commodity price cycle. The
decline in crude oil prices by up to 60% will put significant strains on revenue of the net oil
exporters, especially to those whose revenues are highly determined by the crude oil sales.
Fuels is an aggregation of all fuels including crude oil, gas, coal and ethanol. Continuing to
have losses in one of these factors could affect the ability of the countries to import critical
inputs for their domestic production and food exports.
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