Ramaphosa's economic aid package well-thought-out - economist
Chief economist at Econometrix Dr Azar Jammine has described the social and economic relief package announced by President Cyril Ramaphosa as sensible and well-thought-out.
President Ramaphosa announced an unprecedented R500 billion social and economic support package to mitigate the impact of the coronavirus pandemic on Tuesday evening.
"It will help both the poor and the business sector and this means consumers will be able to afford better products in this time we are in," says Jammine.
Despite the criticism from some quarters on the government’s decision to engage the World Bank and the International Monetary Fund for funds, Jammine says he has no problem with this course of action.
"The beauty of it is that there are no strings attached, the money is available at a 1% interest rate and it will go a long way.”
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