Ramaphosa to revive South Africa economy, provide R100 billion jobs, R50 million disease grant, child support grant, others
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| Cyril Ramaphosa South Africa President |
The South Africa President, Cyril Ramaphosa has give a message of hope to the citizens and resident of South Africa in his widely broadcast speech made on Tuesday evening. The president in his speech shared a number of economic recovery plans that his government has put in place to repositioned the already collapsed economy of the country, as well as updating social programmes that will be beneficial for all and sundry in the country.
The speech delivered by the President on late of evening of Tuesday, will put a few minds at ease before bedtime on what the future hold for the county.
Below are some of the excerpt from the hopeful messages and speech of President Cyril Ramaphosa:
On reviving the economy; “We are now embarking on the second phase of our economic response to stabilise the economy, address the extreme decline in supply and demand and protect jobs. As part of this phase, we are announcing this evening a massive social relief and economic support package of R500 billion, which amounts to around 10% of GDP.”
On the distribution of the R500 billion; “An amount of R20 billion will be used to fight the global health crisis. Additional funding of R20 billion will then be made available to municipalities. We have decided on a temporary 6-month disease grant, worth R50 million. We will also be introducing a R200 billion loan guarantee scheme, too.”
“An additional R100 billion will be set aside for protection and creation of jobs. R40 billion is for income support payments for workers whose employers are not able to pay their wages. An additional amount of R2 billion will be made available to assist SMEs and spaza shop owners and other small businesses.”
On social investment and child support system; “Child support grant beneficiaries will receive an extra R300 in May, and from June to October, they will receive an additional R500 each month.All other grant beneficiaries will receive an extra R250 per month for the next six months.
“In addition, a special distress grant of R350 a month for the next six months will be paid to individuals who are currently unemployed and do not receive any other form of social grant or UIF payment.”
On the lockdown regulations; “If we end the lockdown too soon or too abruptly, we risk a massive and uncontrollable resurgence of the disease. We will therefore follow a phased approach, guided by the best available scientific evidence, to gradually lift the restrictions on economic activity.”
On the future of the lockdown regulations; “On Thursday, I will address the nation on the measures that will be taken beyond the nation-wide lockdown to re-open the economy. This crisis will not last forever, and the day will come when these measures are no longer needed. Until then, however, we must ensure that all of our people receive adequate support.”
On the chance of the country “new economy”; “Our country and the world we live in will never be the same. We are resolved not merely to return our economy to where it was before, but to forge a new economy in a new global reality. Our economic strategy going forward will require a new social compact among all role players to restructure the economy.”
“Our new economy must be founded on fairness, empowerment,justice and equality.It must use every resource, every capability and every innovation we have in the service of the people of this country. Our new economy must open new horizons and offer new opportunities.”
The message of hope from Cyril Ramaphosa was concluded with;
“Even as we find ourselves at a moment of great peril, even as great sacrifices are demanded, as we dare not allow our vigilance to waver, we look to a better future. I’ve faith in the strength of South Africans, who proved throughout history that they can rise to the challenge. We shall recover… we shall overcome and prosper.”
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