Miscellaneous
Guest : Dick Forslund | Economist & Researcher at Alternative Information & Development Centre | Close to 100 economists have rallied together and written an open letter to the Standing Committee on Finance to reject the newly released supplementary budget (as tabled by the Minister of Finance on Wednesday 24 June 2020). The open letter and submission from South African economists, economic and business analysts, and others on the Supplementary Budget (tabled 24 June 2020) argues that the Supplementary Budget Reneges on the President’s COVID-19 Rescue Package and poses dire risks to the country. South Africa is in an unprecedented crisis. The Minister projected a fall in GDP of 7.2% and estimates of jobs at risk vary to as high as 2 million. Millions will be plunged deeper into poverty if action isn’t taken immediately.