Creecy to deliver Gauteng budget
JOBURG – Finance MEC to deliver provincial budget on 7 March.
Finance MEC, Barbara Creecy will present the 2017/18 provincial budget to the Legislature on 7 March.
According to a statement released by Creecy’s office, the budget will provide a detailed breakdown of how the Gauteng provincial government will use available resources to fund key priorities in the next financial year.
Education, health, housing and tourism are expected to receive priority in this budget. Infrastructure development is also expected to receive the biggest slice of the budget.
In his State of the Province Address, Premier David Makhura said the provincial government continued to invest in economic infrastructure in townships, including the refurbishment of industrial parks and providing broadband connectivity, the establishment of ekasi labs for technology start-ups as well as training and skills development for township enterprises and small to medium-sized businesses.
The premier highlighted that the building of new and maintenance of existing infrastructure was the lifeblood of a social and economic transformation agenda.
According to Makhura, infrastructure investment is one of the most positive mega trends of his administration. He mentioned that between 2013 and last year, infrastructure investment amounted to R30 billion, translating into an average annual growth rate of 20.7 per cent – the fastest growth rate in the country.
Evidence emerging from a commissioned study conducted by KPMG regarding public infrastructure investment found that:
- 92 000 direct jobs were added to the Gauteng economy
- It raised R15 billion to support household incomes. On average, every R1 spent on infrastructure adds 92 cents to the Gauteng economy.
- It increased government revenue by R6 billion.
- It resulted in additional economic activity worth R26 billion.
This suggests that without government-led infrastructure investment at national, provincial and local level, the national economy could have been in recession, with serious consequences for families and businesses alike.
