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Treasury to allocate extra R7bn for provision of vaccine procurement

In his budget speech earlier on Wednesday, Finance Minister Tito Mboweni announced additional funds for the country’s vaccination campaign.

President Cyril Ramaphosa, Finance Minister Tito Mboweni and his team at Parliament after the Budget speech on 24 February 2021. Picture: GCIS.

CAPE TOWN - Treasury is putting its money where its mouth is allocating an extra R7 billion for the provision of vaccine procurement.

In his budget speech earlier on Wednesday, Finance Minister Tito Mboweni announced additional funds for the country’s vaccination campaign.

READ: Tito Mboweni on SA economy: There are reasons to be hopeful

Treasury's Budget documents repeatedly stress the importance of a smooth vaccine rollout process, linking it directly to the nation's prospects for an economic turnaround.

Health Minister Zweli Mkhize has said on a number of occasions that there was no upper limit for spending on vaccine procurement.

But at some stage, government had to put a number to the programme and that was up to Mboweni.

ALSO READ: Govt allocates over half of R2 trillion spending budget to social services

He told the National Assembly that Treasury had now allocated R12 billion to funding the vaccine rollout over the medium term.

“We are allocating more than R10 billion for the purchase and delivery of vaccines for the next two years. We are increasing the contingency reserve from R5 billion to R12 billion to make provision for any further purchasing of vaccines.”

The bulk of the money, according to the budget review document, will be used to buy vaccines, with R2.4 billion allocated to provinces to help them distribute and administer vaccines.

The Medical Research Council also gets a R100 million injection for vaccine research.

WATCH: R10bn for vaccines & no tax hikes - Mboweni delivers 2021 Budget Speech

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