SUNDAY TIMES - Gauteng gets R108bn for this financial year
196.34.62.59
Sunday Times Business By Neo Goba, 2017-03-07 10:56:50.0

Gauteng gets R108bn for this financial year

The Gauteng provincial budget for the 2017/18 financial year has been set at R108 billion‚ R5 billion more than the previous financial year says Gauteng Finance MEC Barbara Creecy.
Image: MOELETSI MABE

The Gauteng provincial budget for the 2017/18 financial year has been set at R108 billion‚ R5 billion more than the previous financial year.

This was revealed by Gauteng Finance MEC Barbara Creecy‚ who tabled her budget in the provincial legislature on Tuesday.

“In this financial year‚ we table a budget of R108 billion and we have added R10 billion to the baseline of departments to meet increased demand‚” Creecy said.

A large portion of this budget will be spent on education‚ which has increased from R39.5 billion to R40.8 billion in this financial year.

Health follows‚ with an increase from R37.6 billion to R40.2 billion.

Infrastructure receives the third-biggest chunk at R31.9 billion over the next three years‚ which will focus on provincial government infrastructure and will include roads‚ hospitals‚ clinics and schools.

In addition to this amount‚ a baseline of R12.5 billion has been set aside as an asset financing reserve for departments that have not yet received final quotations for various projects.

The completion of what the province calls “legacy infrastructure projects” which have been outstanding for many years‚ will be allocated more money.

Creecy announced that the finance department has saved up R414 million rand in cost cutting. This was done through cutting back on catering and corporate branding.

In the previous financial year‚ the department saved R386 million in fruitless and wasteful expenditure by reducing interest paid on overdue accounts.