An aid plan to deal with the consequences of COVID-19 and the riots

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About $2.4 billion, this is the amount the South African government announced this Wednesday, July 28, 2021, for aid measures following the Covid-19 pandemic and damage caused by recent riots.

According to Finance Minister Tito Mboweni, the support of the South African authorities will go to businesses and individuals. But with aid funds already released since the start of the pandemic for a stalled economy, the government is counting on expected revenues and will shift some of the expenses to meet this new aid scheme. Therefore, he will not have the recourse of debt.

However, the context is not favorable. Like other countries, the leaders of South Africa are trying to cope For the pandemic that seems to be gaining momentum Over time, taking care not to cripple economic activity. Last Sunday, President Cyril Ramaphosa eased confinement restrictions he had tightened a month earlier, while rising cases of the coronavirus raise fears that ” third wave ».

Another incident that led to riots After the imprisonment of former President Jacob Zuma There was a lot of damage in early July. Officials said they expected the cost to be more than $3.3 billion on the South African economy.

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