SASSA latest news update today 1st November 2022

SASSA latest news update today 1st November 2022

SASSA newest information replace in the present day 1st November 2022

SASSA newest information replace in the present day – We anticipate extending the COVID-19 Social Aid of Misery (SRD) Grant, also referred to as the R350 grant, via the tip of March 2024.

It’s because no determination has been made concerning the funding mechanism for the grant’s substitute, and the federal government continues to be contemplating a number of choices.

As a part of his Wednesday afternoon presentation of the Medium Time period Price range Coverage Assertion to Parliament, Finance Minister Enoch Godongwana made the choice to increase the fu

To briefly handle the wants of essentially the most weak individuals who have been impacted by the [COVID-19 caused] lockdown measures, the SRD award was launched in Could of 2020. There have been a number of extensions since then. The way forward for the grant continues to be up for debate, and it entails some extraordinarily robust trade-offs and finance selections, he mentioned

Social grants like these for the aged and the disabled will see slower development than the final charge of inflation because of the extension of the SRD funds.

Treasury estimates that the SRD award will improve by at the very least 8.8% yearly, with potential monetary repercussions of virtually R64.9 billion within the 2030/31 fiscal yr, therefore affecting the viability of the general public purse.

Contemplating this estimate, Godongwana warned that the grant’s indefinite extension would have a devastating impact on the federal government’s capacity to pay its payments.

A everlasting extension or substitute will necessitate both everlasting will increase in income or everlasting cutbacks in spending elsewhere, or some mixture of the 2, regardless of the availability made on this funds.

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