What risks are threatening South Africa over the next two years: WEF

The World Economic Forum (WEF) has published its global risks report, detailing some of the key risks facing South Africa over the coming years, as reported by BusinessTech.

The forum said that Covid-19 and its economic and societal consequences continue to pose a critical threat to the world at the start of 2022.

“Vaccine inequality and a resultant uneven economic recovery risk compounding social fractures and geopolitical tensions. In the poorest 52 countries – home to 20% of the world’s people – only 6% of the population had been vaccinated at the time of writing.By 2024, developing economies (excluding China) will have fallen 5.5% below their pre-pandemic expected GDP growth, while advanced economies will have surpassed it by 0.9%—widening the global income gap.”

The WEF said this resulting global divergence will create tensions— within and across borders—that risk worsening the pandemic’s cascading impacts and complicating the coordination needed to tackle common challenges including strengthening climate action, enhancing digital safety, restoring livelihoods and societal cohesion and managing competition in space.