ANALYSIS: South Africa Needs A Stimulus Package Beyond Coronavirus Measures

Thebe Mabanga

As the South African economy moved into lockdown, the government needs to put in place stimulus measures to not only help the economy through this wave of crisis, but also place it on a long-term footing for growth.

“The economic difficulties that SA faced before the coronavirus outbreak have just multiplied 10 times,” Pick ‘n Pay chief executive officer Richard Brasher said last week at Stanlib Conference where physical attendance was cancelled due to the virus.

On Thursday evening, President Ramaphosa announced a range of measures to help tide the economy over the coronavirus outbreak.

These include the R 1 billion solidarity fund and a R 3 billion industrial fund put together by the Industrial development Corporation and the Department of Trade and Industry to assist distressed firms.

They also include a R 200 million fund to assist small and medium-sized businesses as a dedicated fund to help