Tweeps react to the rand's slip and South Africa's dive into recession

Tweeps react to the rand's slip and South Africa's dive into recession

On Tuesday, 4 September, the news broke that South Africa has technically entered a recession. South Africans knew things were looking bad for the country's economy but didn't expect it to be so bad.

PAY ATTENTION: Click “See First” under the “Following” tab to see News on your News Feed! reported earlier that South Africa's economy hit a terrible low and now the country has entered a recession.

Thanks to a GDP drop of 0.7%, the economy is in a tight spot. The rand has been performing at all-time lows as well. At this time, the rand is R15.20 to the dollar, R19.53 to the pound and R17.59 to the euro.

Parody Twitter account @AdvBarryRoux shared a tweet outlining the rand's recent nosedive and tweeps reacted in the typical South African way - with a bit of humour. People know the seriousness of the matter but laughing about it for a bit makes it more bearable.

Many South Africans are throwing blame at either President Cyril Ramaphosa or former president Jacob Zuma.

Dollar vs Rand : R15.23
Euro vs Rand : R17.61
Pound vs Rand : R19.53

PAY ATTENTION: Save mobile data with FreeBasics: Briefly is now available on the app

READ ALSO: Pitso Mosimane reveals who he wants to win the MTN8 final

How do you feel about the state of South Africa's economy? Let us know on our Facebook page and we could be sharing your thoughts and views.

To stay up to date with the latest news, download our news app on Google Play or iTunes today.

Look what happens in the Cartoon Comedy: What Happened To Mary? and head over to Briefly South Africa's YouTube channel for more awesome videos.


Mailfire view pixel