Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National
Overview: The Government of South Africa announced the second and third phases of its economic response to COVID 19 pandemic.
Phase 1 began in mid March 2020 and included tax relief, release of disaster relief funds, emergency procurement and wage support.
Phase 2 is intended to stabilise the economy and address the decline in supply and demand.
This includes a social and economic relief support package of R500 billion (10% of GDP). R130 billion within the current budget will be reprioritised, and the rest will be raised from local sources and global partners and finance institutions.
Phase 3 is to be implemented to drive the economy as the country emerges from the pandemic.
Full details here: https://www.gov.za/speeches/president-cyril-ramaphosa-additional-coronavirus-covid-19-economic-and-social-relief