SA’s great big stimulus stumble
The government’s R500bn stimulus response to the Covid-19 crisis is being held back by poor implementation
06 August 2020 - 05:00
Not only is SA’s R500bn stimulus response to Covid-19 failing to get to those on the ground fast enough, it’s not sufficient to counter unemployment and rising social tensions.
With less than half the promised package coming from "new money", and a large chunk (R130bn) from reprioritising the existing budget, SA’s response, amounting to 10% of GDP, lacks the firepower of those of, say, Germany or Japan, which capitalised on fiscal prudence to roll out packages of 35% and 20% of GDP respectively...
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