NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Covid Limits Eased in South Africa Even as More Test Positive

Published 12/31/2021, 12:44 AM
Updated 12/31/2021, 01:18 AM
© Reuters.  Covid Limits Eased in South Africa Even as More Test Positive
TWTR
-

(Bloomberg) -- South Africa eased restrictions meant to stop the spread of coronavirus even as the percentage of people testing positive for the disease exceeded 20% for the 19th straight day. 

The government lifted a curfew that was in place from midnight to 4 a.m. with immediate effect and allowed establishments selling alcohol to operate beyond 11 p.m. Wearing of masks in public will remain mandatory, according to a statement.

“All indicators suggest the country may have passed the peak of the fourth wave at a national level,” Minister in the Presidency Mondli Gungubele said in emailed statement issued after a cabinet meeting on Thursday. He cited a drop in new cases for the week ending Dec. 25 and the availability of hospital beds.

The move to ease restrictions may stem from South Africa’s push to recover from its biggest economic contraction in at least a quarter century last year, and spur spending during the holiday season. Economists surveyed by Bloomberg estimate gross domestic product expanded 4.9% in 2021, slower than a previous projection. Meanwhile, test positivity rate rose on Thursday to 28.1%, far exceeding the 5% that the World Health Organization deems tolerable.

“Numbers are still up in South Africa, especially the positivity rate,” Tulio de Oliveira, the head of gene sequencing institutions in South Africa who presented findings about omicron last month, said on Twitter (NYSE:TWTR). “We are still not out of the woods.”

Africa’s most-industrialized nation also reported 126 deaths on Thursday, the most since the discovery of the omicron variant. Hospitalizations also increased.

Other rules eased by the government include:

  • Indoor gatherings are now restricted to 1,000 people (previous 750), outdoor gatherings to 2,000, no more than 50% of capacity of an indoor venue may be used
  • Establishments selling alcohol will revert back to full license conditions

©2021 Bloomberg L.P.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.