President Cyril Ramaphosa announced the intervention as the country saw a rise of COVID-19 cases to 3465 with 58 deaths recorded as of Tuesday. Here are all the COVID-19 economic and social measures in numbers.
South Africa (22 April 2020) – Government has announced a massive social relief and economic support package of R500 billion which amounts to around 10% of Gross Domestic Product (GDP) to mitigate against the blow of COVID-19 in the country.
President Cyril Ramaphosa announced the intervention as the country saw a rise of COVID-19 cases to 3465 with 58 deaths recorded as of Tuesday.
The newly announced support package forms part of the second tier of the country’s three-phase economic response to stabilise the economy, address the extreme decline in supply and demand and protect jobs.
The social relief and economic support package that stands at the centre of the second phase will cater for an extraordinary health budget to respond to Coronavirus, the relief of hunger and social distress, support for companies and workers and the phased re-opening of the economy.
“The impact of the Coronavirus requires an extraordinary coronavirus budget – of around R500 billion – to direct resources towards fighting the pandemic. This will include the reprioritisation of around R130 billion within the current budget,” said the President.
Here are all the COVID-19 economic and social measures in numbers:
- 26 – the days since South Africa began a nationwide lockdown to contain the spread of the coronavirus.
- 58 – the lives taken by the coronavirus in South Africa by 21 April 2020.
- 126 000 – tests conducted by 21 April 2020.
- 3 465 – confirmed cases of coronavirus by 21 April 2020.
- Over 2 million – people screened in communities across the country.
- Over 15 000 – people referred for testing.
- R500 billion – budget for a massive social relief and economic support package.
- 10% – the gross domestic product of the R500 billion budget for a massive social relief and economic support package.
- R500 billion – budget to fight the pandemic.
- R20 billion – to fund the health response to fight coronavirus.
- R20 billion – an additional amount to be made available to municipalities for the provision of emergency water supply, increased sanitisation of public transport and facilities and providing food and shelter for the homeless.
- 6 months – the duration of the temporary Coronavirus Grant to reach the most vulnerable families in the country.
- R50 billion – to be used to relieve the plight of those who are most desperately affected by the coronavirus.
- R300 – extra amount to be received by child support grant beneficiaries in May 2020.
- R500 – additional amount to be received by child support grant beneficiaries from June to October 2020.
- R250 – to be received by other grant beneficiaries for the next six months.
- R350 – a special COVID-19 Social Relief of Distress grant be paid for the next six months to individuals who are currently unemployed and do not receive any other form of social grant or Unemployment Insurance Fund payment.
- 250 000 – food parcels to be distributed across the country over the next two weeks.
- R100 billion – to be set aside for protection of jobs and to create jobs.
- R1.6 billion – amount paid out by the Unemployment Insurance Fund’s special COVID-19 benefit scheme to assist over 37 000 companies and 600 000 workers.
- 37 000 – companies assisted through the R1.6 billion paid out by the Unemployment Insurance Fund’s special COVID-19 benefit scheme.
- 600 000 – workers who benefited from the R1.6 billion paid out by the Unemployment Insurance Fund F’s special COVID-19 benefit scheme.
- R40 billion – set aside for income support payments for workers whose employers are not able to pay their wages.
- R100 million – value of assistance in the form of loans, grants and debt restructuring provided to small, medium and micro enterprises, spaza shop owners and other informal businesses.
- R2 billion – to be made available to assist small and medium enterprises and spaza shop owners and other small businesses.
- R162 million – finance approved by the Industrial Development Corporation to support companies to procure or manufacture personal protective equipment.
- R200 billion – a loan guarantee scheme to be introduced in partnership with the major banks, National Treasury and the South African Reserve Bank to assist enterprises with operational costs, such as salaries, rent and the payment of suppliers.
- R300 million – the turnover of companies with less than the amount a year which will initially be eligible for the loan guarantee scheme.
- 700 000 – number of firms expected to be supported by the loan guarantee scheme.
- 3 million – the number of employees expected to be supported by the loan guarantee scheme.
- 4 months – the period of holiday for companies’ skills development levy contributions and fast-tracking Value-Added Tax refunds.
- 3 months – the delay allowed for filing and first payment of carbon tax.
- R100 million – the decrease per year of the previous turnover threshold for tax deferrals.
- 35% – the increase of the proportion of Pay As You Earn payment that can be deferred.
- R100 million – the annual turnover of businesses that can apply directly to the South African Revenue Service on a case-by-case basis for deferrals of their tax payments.
- 10% – the amount that taxpayers who donate to the Solidarity Fund will be able to claim as a deduction from their taxable income.
- R70 billion – amount of tax-related cash flow relief or direct payments to businesses and individuals.
- 200 basis point – the repo rate cut by the South African Reserve Bank.
- R80 billion – the amount unlocked after the South African Reserve Bank cut the repo rate by 200 basis point.
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