Whether we like to admit it or not, South Africa's social services in 2024 will cost huge amounts of money. In a report by the Daily Investor, Treasury Secretary Duncan Peters confirmed that in 2024, six out of every R10 collected from taxpayers will go towards South Africa's social services. These include the social services of the South African Social Security Agency (SASSA). Subsidies, healthcare, education.
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Research conducted by The Conversation shows that social grants have long-term benefits, especially for older people. Through extensive testing over many years, researchers found that older people who received the grant had better cognitive function later in life. The report found that by 2024, South Africa's social services actually slowed age-related memory decline and the likelihood of dementia by reducing financial burdens.
Social welfare in South Africa in 2024
Furthermore, last week's budget speech confirmed that 51% of state spending will continue to go towards social care. Indeed, the 2024 Budget reversed course and increased the social wage.This will upset the plan R58 billion Reductions set out in the 2023 Medium-Term Budget Policy Statement (MTBPS).
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More is spent on education, health care, and social grants than on economic development, police, community development, and general public services. The question must be asked whether this initiative to promote social welfare in South Africa in 2024 is actually the right one for Mzansi.
Social grants from 2024 onwards
Finance Minister Enoch Godongwana confirmed that the government would spend the money. R266 billion Regarding social grants for the 2024/25 financial year. or 3.6% of GDP (up from before) R250.97 billion 2023/24).
- Currently, 27.7 million people are receiving SASSA grants.
- This is expected to rise to 28.3 million over the next 12 months.
- This year, 9.2 million people will receive COVID-19 SRD grants.
- After deducting SRD benefits, the 18.8 million beneficiaries of social grants will increase to 19.7 million in 2026/27.
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