Gauteng Medium-Term Budget 2024: What It Means for You

November 27, 2024November 27, 2024171 Views Economy, Gauteng, Government, Johannesburg 2 min read

The Gauteng Provincial Government has tabled its 2024 Medium-Term Budget Policy Statement (MTBPS), addressing key issues like job creation, infrastructure, and debt management.

Gauteng Finance and Economic Development MEC, Lebogang Maile, emphasized a forward-looking approach, balancing fiscal discipline with service delivery.

Focus on Service Delivery

“The budget is a tool for improving lives,” Maile explained. He highlighted that despite economic challenges, essential sectors such as health, education, and social development will not face job cuts. An additional R600 million has been allocated to healthcare and R300 million to education. “Investing in people is our priority,” he added.

Job Creation and Economic Growth

The township economy, which supports small businesses, received attention. The government plans to enhance its Township Economic Development Act, providing funding and support to micro, small, and medium enterprises (MSMEs). “Small businesses are the backbone of our economy,” said Maile, underscoring their role in job creation.

Infrastructure Projects

Infrastructure is central to the province’s growth. Key projects include:

Expanding the OR Tambo aerotropolis.
The Merafong Bio-Energy Park for green energy.
A state-owned pharmaceutical company to streamline healthcare supplies.

An estimated R37.2 billion will fund infrastructure, with R22 billion set aside for maintenance and new projects.

Addressing Debt

One significant challenge is the e-toll debt. Gauteng will pay R20.1 billion, in partnership with the national government. While this strains resources, it unlocks R85 billion for road development over three years.

Resident’s Concerns

The MEC acknowledged concerns about rising costs and service delivery. “We’re working to reduce waste and maximize resources,” he assured. Steps include digitizing supply chains to eliminate corruption and speed up supplier payments.

Residents can expect improved public services and economic opportunities, though tough decisions lie ahead. For detailed updates, visit www.gauteng.gov.za.