With the estimated daily cost to overcome the Covid-19 pandemic of approximately R13 billion a real prospect, the total debt estimated is likely to be over R750 billion – or at least 10% of South Africa’s GDP – and still counting.
Those figures, according to Raymond Parsons, who heads up the Pretoria North West University, believes these huge amounts will be needed to limit the blow of the virus to our already fragile economy.
Overall, the current government response – especially to phase 2 of the economic recovery plans (which was kept secret after the South African government’s recent cabinet meeting), will probably only cover just under 4,3% of GDP. Maybe further meetings will be able to resolve how to boost their current funding to achieve almost double the amount they are releasing to meet the huge headwind aimed at the economic recovery.
With the Reserve Bank expecting an approximate 6% decline in the overall economy as a result of the extended 50-day lockdown, these published estimates fly in the face of other expert economists who see a much larger contraction figure of around 9%, and a budgetary deficiency of 14.5%, with the direct impact of a further 1.5 million job losses just around the corner.
With the probable need of over R10 billion needed to prop up the health department, coupled to the never-ending increases to social grants which will require another R60 billion to fund in the coming six months – along with 100 billion support to pay wages for the next six months – the future looks anything but rosy.
Any surplus money in government institutions looks likely to be wiped out very quickly. An immediate need to negotiate a favourable credit loan from the IMF/World Bank and China will probably require a quick finalisation to maintain our nation’s sustainability.
But the reforms so vitally needed still lie ahead to reduce the haemorrhaging of public funds that will, in all probability, at the very least, see a realignment of toll fees plus an urgent review of the Road Accident Fund (which is reported to be R850 million in debt), along with other state enterprises that are teetering on the brink of ruin.
So, even with those urgent structural reforms in place to soften the crisis the Treasury will remain on the verge of an ongoing fiscal cliff, but what’s emerging even more quickly is that reaction to the Covid-19 pandemic in financial terms is just as important as the medical reaction is to the lockdown that we are all faced with for some time to come.
Blame the virus pandemic on communist China
You could argue that for more than four months now the world has been hijacked by a group of irresponsible Chinese epidemiologists as the world’s entire population cling to every word on news channels in closed-down economies found right around the globe – whilst being imprisoned in their front rooms against the invisible enemy of Covid-19 – with its ability to deliver influenza-style pneumonia and a lingering death to over two million people – and there’s little sign of light at the end of the tunnel.
To track down the Chinese government since the suppression of the truth and their clear cover-up and pack of lies about the pandemic that emanated in the city of Wuhan, went on to state that on December 14 the fall-guy Dr Li, his efforts as a whistle-blower on the escaped Covid-19 killer virus, told the world about an impending pandemic, only to see himself succumb from the virus within a matter of a few short days.
Overnight 14 new deaths occurred and were blamed on urban and rural wet markets (a marketplace that specialises in the sale of meat, fish and produce, usually found in the open air).
The discovery in the first couple of weeks on January 1, 2020 where approximately 500 cases in Wuhan were being treated, an expert panel of scientists’ decided to shut down the Number 4 Research Centre for biological warfare in that city only to embark on a sophisticated cover-up of the true facts, denying all knowledge of any wrongdoing on global TV and even online reporting.
“The communist Chinese party were indeed the main backers of the Number 4 research facility which was developed and designed in France in 2007 when China asked France for help to become a global leader in germ warfare and pharmaceutical research. The huge facility was financed by the Chinese government and built by the army for research into Covid-19, SARS and HIV Aids,” reported spokesman Dr Sean Lyne.
The laboratory then went on to produce a new virus with the help of Horseshoe Bats that could potentially cause death in humans (zoonosis) on a massive scale. Many scientific papers were published to show the affinity of the three synthetic virus strains – all with distinct similarities between AIDS and SARS, and Covid-19 – as far back as 2018.
The Zhusen virus – a forerunner of Covid-19 – was finally detected in Horseshoe Bats (commonly found in Chinese street markets) that would host five special protein cells that had the potential to ‘migrate’ via human consumption.
By this time all co-operation with France had ceased as French scientists were of the opinion that the Chinese government were not careful enough with the samples and that this destructive Covid-19 virus could cause a catastrophe if it leaked out of the Number 4 Research facility in Wuhan and could infect the entire human race.
And that is just what SARS II novel coronavirus has gone on to do.
Even using the brightest scientists, there’s very little to stop the march on changing the world as we know it. The fact that there are reportedly 35 research centres based across China suggests that these government-subsidised facilities potentially form part of a sinister and evil dream of world domination by the Chinese.
With all-out chemical warfare at their fingertips and – intended or otherwise – deliberate and grossly irresponsible determination to bring global democracies to their knees, this unprecedented killer pandemic is estimated to have already cost some 3.2 trillion dollars thus far just in monetary terms… let alone people’s lives.
This is the uncertain world we live in right now with the prospect of a vaccine being 18 to 24 months away while coupled to an endless stream of global ‘enforced lockdowns’… as more disinformation continues to churn out of China.
You might well multiply reported death figures by over 100%. The impending second wave of infection that lies ahead means no one knows when it might be safe to finally leave this lockdown environment which we currently find ourselves in.
When history eventually records the facts on the Covid-19 pandemic, the story of the crisis will most likely read about a group of epidemiologists who delivered what was essentially unreliable, incomplete and, in some cases, utter drivel – the true facts may never actually be known.
Only the U.S. seems to be up to the challenge of pinning the cost of all this on the donkey’s tail of China who have made the world what it is today.
With over two decades of constant research into germ warfare and with over two million people sick with the virus, even the Chinese have had to revise their death rate upwards in Wuhan because of global scrutiny.
And still, no one knows when this will all end. The ANC’s form of business cardiac arrest under lockdown is not good for average body shop sustainability now is it or the overall economy?
By Ian Groat