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'In a country with high unemployment R350 makes a difference - Lumkile Mondi

28 July 2021 4:15 PM
Tags:
Economy
Covid-19 economic impact
COVID-19 economic recovery plan
Minister of Finance Tito Mboweni

Wits senior lecturer at the school of economics and business science Lumkile Mondi analyses Finance Minister Tito Mboweni’s briefing on government economic support packages.

The finance ministry and National Treasury held a briefing today to unpack details around the measures meant to cushion workers who lost their jobs and businesses which were affected by the civil unrest two weeks back.

National Treasury confirmed a cost of R27-billion rand would be financed by the treasury in support of the R350 monthly payments towards unemployed citizens.

The entity has also confirmed that the government will not be borrowing new money to finance the package.

The economic recovery plan that has been tabled and pushed by President Cyril Ramaphosa indicated to us a commitment of really working with the private sector in the investment lead economic recovery plan called ‘Operation Vulindlela'.

Lumkile Mondi, senior lecturer at school of economics and business science - University of the Witwatersrand

The government is spending money correctly in making sure that given the state of our fiscal position that the private sector plays a much stronger role.

Lumkile Mondi, Senior Lecturer at School of Economics and Business Science - University of the Witwatersrand

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Mondi says the R350 grant for those who are unemployed will play a huge role especially now that the country is battling with high unemployment.

In a country with high unemployment and inequality, the R350 makes a difference in bringing a plate to the table for those households that have people who are unemployed and struggling to make ends meet.

Lumkile Mondi, Senior Lecturer at School of Economics and Business Science - University of the Witwatersrand

National Treasury mentioned the total cost of the fiscal relief package announced by President Cyril Ramaphosa in the aftermath of the civil unrest has amounted to R38.65 billion.

Listen to the full interview below...




28 July 2021 4:15 PM
Tags:
Economy
Covid-19 economic impact
COVID-19 economic recovery plan
Minister of Finance Tito Mboweni

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