Economist: Ramaphosa may announce ‘emergency budget’
The subject of an emergency budget could be broached when President Cyril Ramaphosa addresses the nation on Tuesday evening.
Ramaphosa is set to address South Africans on the government’s expanded social and economic relief amid the coronavirus crisis.
Economist Duma Gqubule says the budget tabled by Finance Minister Tito Mboweni in February is simply not suitable for a post-coronavirus South Africa.
“In terms of a major fiscal stimulus, I think the president may announce a date for a supplementary budget.”
Gqubule also believes Ramaphosa could increase the food aid budget to at least R11.5 billion.
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The elderly may also receive a boost to their social grants.
“He could announce a once-off payment of a grant, or a top-up of an old age grant by R500. Those are the two popular options,” he adds.
Last week, Finance Minister Tito Mboweni confirmed that Treasury would be looking at “upwardly adjusting” social grants either for the elderly or for children.