Finance Minister Tito Mboweni will on Wednesday present his emergency supplementary budget as the economic fallout of the coronavirus (COVID-19) pandemic continues to intensify.
Yamkela Makupula, CEO of Diaz Reus Africa, elaborates on what an emergency budget means for South Africa: “All the financial plans that you had at the beginning, will have to re-look at that and say what can we do and that is why the supplementary budget has to happen. You have to go back to the drawing board and re-prioritise on how we are going to allocate the funds. The country, the economy still needs to continue, social grants still need to be paid. All of those municipalities. But then a lot of money has gone into emergency funding”.
