President Cyril Ramaphosa’s package of economic recovery measures, announced on Sunday night, gives just enough relief to tide the economy over the immediate crisis caused by the recent looting and unrest. But, crucially, Ramaphosa resisted calls to introduce a permanent basic income grant (BIG) or throw fiscal sustainability overboard.

Given the economic devastation caused by the unrest — some measures put it at north of R50bn — Ramaphosa had come under pressure to sanction unbridled fiscal spending, to show that his government is still in touch with the suffering of the people after its bungling in recent weeks. Fortunately, he resisted...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now