BLSA calls for emergency budget over pandemic
JOHANNESBURG – Lobby group Business Leadership South Africa (BLSA) has called for an emergency budget as an immediate response to the economic impact caused by the coronavirus pandemic and consecutive credit ratings downgrades. BLSA said yesterday that the government needed to move with speed, as the worsening economic situation in the country would disproportionately hit the poor.
Chief executive Busi Mavuso said that in times of emergency the country needed emergency measures.
Mavuso said direct support was going to be needed through feeding schemes and financial support as the country observes the 21-day lockdown to prevent the spread of the disease that has infected 1605 people and killed 11 others.
“We need an emergency budget this month to deal with the economic destruction wrought by the coronavirus and two consecutive downgrades of our investment ratings,” Mavuso said.
“The crisis demands dramatic measures. An emergency budget would be the first step in tackling the country’s debt situation, with resources also reallocated to where they’re now needed most to address the coronavirus effects.”
Source: iol.co.za