CAPE TOWN - The DA has called for answers on how the government planned to finance the R102 billion needed for President Cyril Ramaphosa's stimulus package.
In a statement, the DA said that the estimated R102 billion needed for Ramaphosa’s proposed R43 billion stimulus package and R59 billion bailout package for state-owned entities (SOEs) begged the question of how this would be financed.
This on top of the public-sector wage bill, now estimated to be R30 billion more than budgeted for in the main budget over the medium term, according to the DA.
On Sunday it was reported in an online business daily that the stimulus package announced two weeks ago by Ramaphosa would cost South Africa about R43 billion.
The package was expected to help uplift or stimulate the economy that was reportedly near a recession and would form the basis of Finance Minister Nhlanhla Nene’s medium-term budget policy statement, according to the report.