social grant
The South African government has unveiled plans to increment social grants. Finance Minister Enoch Godongwana made announcements during the Budget Speech in Cape Town on Wednesday, indicating an upward adjustment of social grants to support nearly 19 million South Africans dependent on this assistance.
“We are sensitive to the increase in the cost of living for the nearly 19 million South Africans who rely on these grants to make ends meet. In this regard, we have done as much as the fiscal envelope allows,” Minister Godongwana asserted.
According to the Minister’s statement, the Social Relief of Distress Grant (SRD Grant), commonly referred to as the R350 grant, will not be subject to these increases. However, there will be notable adjustments across various other aids starting from April, with a further extension in October.
The beneficiaries of the old age, war veterans, disability, and care dependency grants will see a R90 rise from the month of April and an additional R10 escalation from October, amounting to a R100 total increment. Additionally, the foster care grant will ascend by R50, while the child support grant will be augmented by R20.
In further expansions detailed within the Budget 2024 review, the National Treasury outlined that social grant spending— not inclusive of the SRD grant— is projected to leap from R217.1 billion in the 2023/24 period to R259.3 billion by 2026/27. Also of note is the allocation of R33.6 billion toward the COVID-19 SRD Grant for the fiscal year of 2024/25, with preliminary allocations set aside for subsequent years up to 2026/27.
Recognizing the need for reform, Minister Godongwana announced that ongoing work intended to enhance the COVID-19 SRD Grant is set to reach completion by April this year. “National Treasury will work with the Department of Social Development in ensuring that improvements in this grant are captured in the final regulations. These improvements will be within the current fiscal framework. For the extension of the grant beyond March 2025, the social security policy reforms, together with the funding source, will be finalized,” he conveyed.
The total number of grant beneficiaries is forecasted to rise from 18.8 million in the current fiscal year to a significant 19.7 million by 2026/27, exclusive of the COVID‐19 SRD Grant recipients, as per the National Treasury projections. This move is aimed at providing a buffer to those in need against the backdrop of a worsening economic climate.
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