May 2020 2nd Edition

COVID-19 stimulus package in numbers

Finance Minister Tito Mboweni recently elaborated on the R500 billion stimulus package announced by President Cyril Ramaphosa in April, to counteract the effects of the coronavirus (COVID-19) pandemic on individuals, businesses and the economy.

Vuk’uzenzele takes a look at the amounts allocated:

R800 billion: The total, economy-wide cost of the COVID-19 measures announced by government in recent weeks. 

R130 billion: The amount reprioritised from the current budget to be used to fight COVID-19.

R20 billion: Allocated to protective equipment for health workers, community screening, an increase in testing capacity, additional beds in field hospitals, ventilators, medicine and staffing.

R1 billion: The amount spend by the Solidarity Fund on personal protective equipment so far.

R20 billion: Allocated to municipalities for the provision of emergency water supply, increased sanitisation of public transport and facilities, and providing food and shelter for the homeless.

R50 billion: Has been allocated as a temporary six-month coronavirus grant. It includes child support grant beneficiaries, other grant beneficiaries and a special Covid-19 Social Relief of Distress grant for unemployed individuals who do not receive any other form of social grant or Unemployment Insurance Fund payment.

R100 billion: An additional amount allocated for the protection of jobs and to create jobs.

R40 billion: The amount allocated for income support payments for workers whose employers cannot pay their wages.

R2 billion: An additional R2 billion was allocated to assist small, medium and micro-enterprises, spaza shop owners and informal businesses.

R200 billion: A loan guarantee scheme of R200 billion has been put in place, in partnership with major banks, National Treasury and the South African Reserve Bank.

10 percent: The amount that taxpayers who donate money to the Solidarity Fund will be able to claim as a deduction from their taxable income.  

Share this page