Social grants in South Africa will rise less than inflation: Mboweni
Social subsidies will increase from April below inflation rates of between 1.0 and 3.4%, announced the Minister of Finance, Tito Mboweni.
Added to this is the end of the emergency social assistance grant in the same month, and grant spending is reduced by 2.2% over the next three years.
“Total social grants are reduced by R5.8 billion in 2021/22, R10.7 billion in 2022/23 and R19.5 billion in 2023/24. All grant values will increase less than inflation. The number of beneficiaries is expected to increase by about 300,000 people during the period, ”reads the 2021 budget review report.
The number of social grant recipients is expected to reach 9 million in 2022/23.
In the next financial year 2021/22, the seven categories of social assistance will increase between 4 and …