WATCH: Ramaphosa addresses nation on COVID-19 economic measures

The country is set to spend its way out of the COVID-19 economic trouble. President Cyril Ramaphosa’s aid package aims to put money in the hands of the poor, help businesses and introduce some tax relief. eNCA’s Devan Murugan takes a look at the numbers. #Day27ofLockdown Courtesy DStv403

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PRETORIA - President Cyril Ramaphosa addressed the nation on Tuesday night.

Ramaphosa announced a R500-billion relief package to support the economy and the vulnerable during the coronavirus pandemic.

Addressing the nation on Tuesday, Ramaphosa announced "a massive social and economic support package of R500-billion, which amounts to about 10 percent of our GDP."

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Ramaphosa's address comes after Cabinet met on Monday to review the impact and responses to the effects of COVID-19.

All sectors of the economy have been feeling the pinch during the month-long lockdown.

There have been 58 coronavirus related deaths in South Africa with 3465 confirmed cases.

 

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It's day 26 of lockdown in the country and all sectors of the economy have been feeling the pinch. Tonight President Cyril Ramaphosa will address the nation. His address comes after cabinet met yesterday to review the impact and responses to the effects of COVID-19. For some insight into what's likely to be announced, we now speak to eNCA political editor Vuyo Mvoko.Courtesy #DStv403

Source
eNCA