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Budget Seems to Rule Out Basic Income Grant

SOUTH AFRICA

Budget highlights document here:https://www.treasury.gov.za/documents/National%20B...

Presentation here:https://www.treasury.gov.za/documents/National%20B...


Highlights

  • Appears the outside risk of a basic income grant has been ruled out - document confirms that additional spending is merely to "extend the COVID-19 social relief of distress grant until 31 March 2024"
  • Eskom comes with strict conditions, including that the money is only used to repay debt and settle interest payments
  • An increase in borrowing requirements due to Eskom debt will partly be financed by short- and long-term borrowing in the domestic markets

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