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English not very good, help rewording this: Resulting in a growing debt to GDP ratio and an estimated funding shortfall of R3.4 trillion to the

English not very good, help rewording this:

Resulting in a growing debt to GDP ratio and an estimated funding shortfall of R3.4 trillion to the fiscus over the next three years. What the pandemic has done is amplified this poor economic outlook. The figures are alarming: GDP declined by 30% in the second quarter, accompanied by the loss of more than 1 million jobs. investor confidence will be a crucial mechanism to accelerate GDP growth and alleviate job losses.

South Africa's mining industry has traditionally been a significant contributor to the country's GDP. However, in recent years the industry has been in structural decline with around 50000 direct jobs lost in the past two years and real production output down 10% in the same period. Annual capex spending in the past three years has been reduced by 45%. The industry faces significant headwinds currently with 65% of mining output in the top half of the cost curve.

There are numerous reasons for this decline including, amongst others, regulatory uncertainty which has resulted in a decrease in brownfield projects, capex investments and exploration, and poor investor confidence.

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