“A revised fiscal framework will also be presented, to account for substantial revenue losses emanating from the economic shock of the pandemic and subsequent lockdown,” the 2020 Special Adjustment Guidelines document states.'
In directions published on Wednesday, the Treasury sates that the “Special Adjustments Budget” will modify the country's 2020/21 budget “to provide for the rapidly changing economic conditions and enable spending on the Covid-19 response”.
In the document, Treasury states that the government had to “act swiftly to minimise the economic impact of the pandemic”, which meant that resources had to be redirected.
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