Ramposa's Advisors Favour Minor Extension to SRD Grant Over Permanent Basic Income Grant

LOCAL NEWS

• Ramaphosa’s economic panel has recommended an extension of the Covid-19 SRD grant for “a few months” instead of a year and also rather than a permanent basic income grant.
  • This should support the firmer fiscal narrative going into the Feb budget, but may face backlash from the public
• Public Protector Mkhwebane confirms receiving complaint lodged by ANC MP Dirks accusing Ramaphosa of breaching the executive code of ethics RE use of SSA funds for political campaigns.
  • SCOPA has given Ramaphosa 10 days to respond and he has agreed
• Eskom has met its deadline for unbundling into three entities but still needs a license from regulator NERSA and consent from certain lenders before the change can be confirmed.
  • Eskom said in a statement that it is suffering from the loss of many highly skilled workers in the generation side of the business

Data:

• 1200GMT: Dec Monthly Budget Balance exp at 42.5bn vs 21.8bn prior