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Thursday, 14 May 2020 02:00 pm

South Africa's treasury schedules June 24 to ratify plans for coronavirus budget

“A revised fiscal framework will also be presented, to account for substantial revenue losses emanating from the economic shock of the pandemic and subsequent lockdown,” it said in a statement.

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South Africa’s National Treasury on Wednesday said it would table a new budget on June 24 to ratify plans for a 500 billion rand ($27 billion) stimulus package aimed at easing the economic impact of the coronavirus outbreak.

“A revised fiscal framework will also be presented, to account for substantial revenue losses emanating from the economic shock of the pandemic and subsequent lockdown,” it said in a statement.

President Cyril Ramaphosa announced the rescue package in late April. It equates to 10% of GDP and includes higher welfare and unemployment grants as well as support for businesses.

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Tags South Africa Ccoronavirus National Treasury Economic GDP

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


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