Analysts have welcomed the COVID-19 social relief measures announced by President Cyril Ramaphosa amounting to R50-billion over the next six months.
The President has announced a R300 increase to the child support grant in May, as well as an additional top-up of R500 from June until October.
Government will also provide an additional R250 increase for all other social grant beneficiaries.
Ramaphosa announced an overall R500-billion support package for the economy to mitigate against the effects of the COVID-19 pandemic.
Co-Director at the Institute for Economic Justice, Neil Coleman says government’s stimulus package is very encouraging.
Meanwhile, President Ramaphosa says South Africa is set to forge a new economy in a new global reality after the coronavirus pandemic settles.
The economic impact of the virus has hit businesses and individuals hard, with many people being left without jobs since the start of the national lockdown.
Ramaphosa says the country’s economic strategy going forward will require a new social compact among all role players, to achieve inclusive growth.