Record unemployment and deepening poverty has fuelled calls for the government to move toward a basic incomegrant, which would be the biggest of its kind globally. Moneyweb Economy
Politics and economics are set to collide over welfare payments in the world’s most unequal nation. The first clue over which will prevail may come in South African President Cyril Ramaphosa’s state-of-the-nation address on Thursday. Cyril Ramaphosa, South Africa’s president, speaks to the media outside parliament in Cape Town, South Africa, on Thursday, Nov. 11, 2021.
Not paying one “is basically a threat to our social fabric and we might see another July moment if we do not act decisively now,” Zimbali Mncube, a researcher at the Institute for Economic Justice, said in reference to last year’s violence. Sachs, and other economists, predict Ramaphosa will extend the support to the unemployed, and that could be seen a precursor to more generous support at a later stage.
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