Nearly $ 2.4 billion, this is the amount announced by the South African government on Wednesday, July 28, 2021, to fund support measures following the Covid-19 pandemic and the losses caused by the recent riots.
Support from South African authorities will go to companies and individuals, according to Finance Minister Tito Mboweni. But for a stuck economy that has already released funding since the pandemic began, the government is counting on the expected revenue and will shift some spending to complete this new support plan. He will therefore not use the debt.
However, the context is not favorable. As in other countries, South African leaders are trying to succeed to the pandemic that seems to be taking hold over time, while taking care not to paralyze economic activity. Last Sunday, President Cyril Ramaphosa relaxed restrictions on containment, which he had tightened a month earlier, while the growing cases of coronavirus aroused fears of the “third wave”.
Another event, the riots that took place after the imprisonment of former President Jacob Zuma in early July caused significant losses. They are expected to cost the South African economy more than $ 3.3 billion, according to authorities.
.
