Mboweni outlines Ramaphosa’s R27 billion Covid-19 relief package | Citypress

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Mboweni outlines Ramaphosa’s R27 billion Covid-19 relief package

The R350 Social Relief of Distress grant announced by President Cyril Ramaphosa on Sunday will cost the fiscus about R27 billion, according to Finance Minister Tito Mboweni, who on Wednesday held a press briefing to provide some details about the measures announced by the president to support the recovery of the economy and provide relief for the poor.

These events have had a serious effect on South Africans and the economy. The implementation of both level 3 and level 4 lockdowns will also have a negative impact on economic output. Mboweni said South Africa’s fiscal situation remains serious, adding that the country’s macro-fiscal context will remain constrained as a consequence of the unrest and the continued lockdown.

The president also announced food relief packages, saying government would contribute R400 million to the Humanitarian Crisis Relief Fund established by the Solidarity Fund. “This amount is a provision for a required capital injection should Sasria exceed its limits. It may be revised as events unfold,” said Mboweni.

 

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