MEC Sikhumbuzo Kholwane on tough economic situation

Let's share the burden of tough economic situation, urges MEC

MEC for Finance, Economic Development and Tourism, Mr Sikhumbuzo Kholwane has urged the provincial departments to share the burden of the current extraordinary economic challenges.

He was speaking at the Provincial Legislature where he tabled a provincial adjustments budget for the 2016/17 financial year amounting to R41.7 billion.

MEC Kholwane said the government had to take difficult but necessary decisions to help the country and the province to overcome the current economic challenges.

Our economy is projected to perform at a rate of 0.3 per cent this year which is in line with the national growth rate prospects, said MEC Kholwane.

He said the priority of all stakeholders must be the poor who depend on the government to improve their socio-economic circumstances.

There will be a reduction to the expenditure ceiling of R10 billion in 2017/18 and R16 billion in the 2018/19 financial years nationally, as highlighted by the Minister of Finance.

We must share the burden of this extraordinary challenge to ease the pressure on future generations while ensuring the continuity of our programmes to improve the socio-economic conditions of the poor, said MEC Kholwane.

MEC Kholwane said the Government will reprioritise funds from the Provincial equitable share and own Provincial Revenue in order to finance service delivery priorities and warned that stringent measures will be put in place to ensure fiscal discipline.

Source: Government of South Africa