President Cyril Ramaphosa announced on Tuesday night that the government has set aside a R500-billion social and economic support package.
The President was addressing the nation on measures the government is undertaking to support the economy amid the COVID-19 pandemic. All sectors of the economy have been feeling the pinch during the month-long lockdown.
The money – which is equivalent to 10 percent of the country’s GDP – will be raised from resources redirected from the current budget and through borrowing from local and international funders.
BLSA CEO, Busi Mavuso spoke to ENCA in reaction to this announcement and expressed business’ view, click below for more: