Schussler said that while the injection was needed, the country must find ways, within reason, to open up the economy so that some people could get back to work.
In his note, Payi said not all of the R500bn was new money as R130bn would come from other budget items, R40bn from the UIF, R70bn from tax breaks and R200bn from a loan guarantee scheme.
“The balance is what may come from loans, including what SA is eligible for from the IMF (International Monetary Fund)," Payi said.
He said the reprioritisation of the budget needed to be done with dexterity.
“One supposes that the risk-adjusted gradual opening of the economy will drive this to a large extent,” Payi said.
Meanwhile, the department of employment and labour said that by the end of business on Tuesday, the UIF's Covid-19 temporary employer/employee relief scheme (Ters) had paid out R1.6bn, helping more than 37,000 companies and 600,000 workers.
The department said R40bn had been set aside for income support payments for workers whose employers are not able to pay their wages during the lockdown.