R182.6bn for Local Development

A total of R182.6 billion has been allocated towards Local Development and infrastructure Finance Minister Pravin Gordhan has announced.

This includes Human Settlements, water and electrification programmes which receive R52.1bn, the municipal and infrastructure grant R67.5bn and public transport R40.7bn.

A further R22.3bn goes to other human settlements and municipal infrastructure. In his speech Gordhan also indicated that energy investments amounted to R70bn this year “and will be over R180 bn over the next three years, as construction of the Medupi,

Kusile and Ingula power plants are completed.

R62 billion is allocated for the housing subsidy programmes, R28 billion will be spent over on improving health facilities and R54 billion on education infrastructure.

“These are some components of the R870bn public sector infrastructure programme over the next three years.

“But our growth and development depends also on an expanding envelope of enterprise investment in industry, mining and mineral beneficiation, agriculture and agro-processing, housing, commercial development and tourism facilities.”

R7.9 billion capital transfer to the Development Bank of Southern Africa, has been completed, he said. The Bank aims to increase lending by R48bn over the next three years.

To get a full analysis of Minister of Finance Pravin Gordhan’s budget speech, get your copy of The Citizen at your nearest news agent tomorrow.

Read full speech below:

Minister of Finance's full 2016 budget speech