SRD Grant Extended For Another Year - Finance Minister


Please share this article

Advertisement


On Wednesday afternoon, the Finance Minister announced whether the SRD grant will continue or be converted. The grant has brought relief to millions of vulnerable South Africans.


Advertisement i


With the Covid-19 pandemic affecting millions negatively, government then introduced the Social Relief of Distress (SRD) grant to assist vulnerable South Africans with no alternate sources of income.

Wednesday afternoon saw Finance Minister, Enoch Godongwana, deliver the Medium Term Budget Policy Statement. The Minister revealed that the SRD grant would be extended for another year, with the grant now coming to an end in March 2025.

The 2023 Budget indicated that the COVID-19 Social Relief of Distress grant was only funded until March 2024. Government proposes that the fiscal framework make provision for funding for the grant for 2024/25.

R34 billion will be allocated to cover the extension of the SASSA R350 grant.

Godongwana said that government is set to finalise the comprehensive review of social grants.

Over the 2024 medium-term expenditure framework (MTEF) period, 61%  of consolidated non-interest spending goes to the social wage — combined public spending on health, education, housing, social protection, transport, employment and local amenities.

“Of this amount, R945.9 billion will be spent on social protection transfers, including the old age grant, the child support grant, the disability grant and the COVID-19 social relief of distress grant. South Africa’s social protection expenditure programme, measured as a percentage of gross domestic product (GDP), is one of the largest among developing countries,” he said.

The 2019 MTBPS noted that by 2040/41, social assistance beneficiaries – excluding the temporary COVID-19 social relief of distress grant – were projected to increase to 22.5 million, necessitating spending on social grants amounting to 3 % of GDP annually.

Will the grant be made permanent?

Godongwana also said that the department expects that should the SRD grant be made permanent, or a similar grant be introduced, the amount of beneficiaries would increase to from 27.3 million in 2023/24 to 40.4 million in 2040/41, which will cost 3.8 % of GDP in 2040/41.

This would however lead to a permanent source of funding, such as additional revenue measures, being needed.

Suggested Article:

Sassa application status

Once you have applied for your Sassa grant you need to keep track of your application status to ensure that you get paid. We have all the details for you on how to check your Sassa application status.






Online Shopping Links

Takealot - Temu - Amazon - Shein




Advertisement


WhatsApp Channel

Sponsored Ad

Advertisement

Advertisement

Google News

Post-Matric Options

 

After completing your matric certificate exams, you are faced with a lot of post-matric options that can shape your future paths.

These options range from pursuing higher education at universities or colleges, entering vocational training programs, joining the workforce, or even starting your own business. There are so many choices but we are here to help.

Advertisement


Where to Study


Advertisement m


Other Articles

Over the past few weeks, thousands of Grade 11 and Matric students were informed that they did not receive an offer to study at a Public University. Every year, only a fraction of applicants are successful, which severely impacts the future plans of these students and their parents, who do not know what their further options are.  


Advertisement


Latest SASSA articles

Sassa revealed that individuals can submit Sassa grant applications online. Here's everything you need to know about Sassa online grant applications. 

Millions of people living in South Africa are unemployed. These people can apply for the R370 grant in June 2024. 


Advertisement


Careers Advice

Everyone is spending so much time online these days - which has lead to Digital Marketing growing into a big business. Working in Digital Marketing promises a long and profitable career but what exactly does a Digital Marketer do? And how do you get into Digital Marketing?


Advertisement i