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.