Ramaphosa set to outline social, economic plans
President Cyril Ramaphosa is set to outline the government’s plans to alleviate economic and social pressures amid growing concern over the impact of the coronavirus on the country’s purse.
Ramaphosa is set to address South Africans on the government’s social and economic relief measures on Tuesday evening.
Cabinet met on Monday to trash out its plans to stave off an economic meltdown.
The South African Reserve Bank forecasts an economic contraction of 6.1% in 2020, alongside the closure of 1,600 small businesses and 370,000 lost formal-sector jobs.
All cabinet clusters were tasked to come up with a single document on Monday, outlining the key priorities of the country's plan to help cash-strapped South Africans and struggling businesses survive the coronavirus crisis.
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There is growing concern that the extended lockdown could push many small and medium enterprises over the edge and lead to enormous job losses in an economy which was already stagnant before the Covid-19 outbreak.
There are also reports of more and more South Africans going to bed hungry due to a lack of work during the lockdown.
The Presidency said on Tuesday that President Ramaphosa’s address will flow from the various discussions he has had over the past week, including at cabinet, the coronavirus command council and the National Economic Development and Labour Council (Nedlac).