The future of the SRD Grant after March 2024
SASSA SRD Grant extended to 31 March 2024 – what happens after that?
In the 2023 budget speech, the Minister of Finance, Enoch Godongwana, informed the nation that the SRD Grant would be extended to 31 March 2024. This was a great relief to millions of people living in South Africa without any source of income.
Since the SRD grant was formed in 2020, after the lockdown, it has been a lifeline to a great portion of the population, but what happens after March 2024?
According to economists, the social relief grant is likely to be extended past March 2024. However, recipients will have to wait until 1 November 2023, when Finance Minister Enoch Godongwana is expected to present a midterm budget.
Will the SRD Grant become a permanent grant?
According to economists, making the SRD grant a permanent grant may add an unbudgeted amount of R50 billion to government expenses, which may in turn require difficult trade-offs.
Another option, is a Basic Income Grant (BIG), which would likely be more than the current SRD amount of R350.
What is stopping the government from making the SRD Grant permanent, or increasing the amount?
In order to keep the social relief grant, the government may be forced to make certain trade-offs.
One option would be to increase taxes or borrow more, but this may not be a good idea as it will inflate the debt-to-GDP ratio.
Another option would be to reduce other grants, such as the war veteran grant.
On 1 November 2023 we will find out the future of the SRD grant – stay tuned.
Types of SASSA grants:
SRD R350 Grant Care Dependency Grant Child Support Grant Foster Child Grant
Disability Grant Older Persons Grant Grant-In-Aid War Veterans Grant
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Contact the SASSA Toll Free Call centre on: 0800 60 10 11
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