Despite funding being made available to cushion the social and economic impact on the poor and affected businesses due to the Covid-19 pandemic and last month’s unrest, South Africa’s finances remain a substantial risk.

Finance Minister Tito Mboweni says South Africa is not an advanced economy and its untrue that a state which prints its own currency cannot experience a debt crisis. This week, Mboweni presented the R38.9 billion Disaster Relief package to support unemployed people, and businesses impacted by the unrest.

Mboweni adds that despite the fiscus being constrained, Treasury will continue its strategy of restoring the health of public finances.

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