Gauteng budget: Here’s where the money is going

Gauteng MEC for Finance and Economic Development Lebogang Maile. Picture: X / @GautengTreasury MEC for finance and economic development, Lebogang Maile, spoke in positive terms as he outlined the province’s trajectory during his Medium-Term Expenditure Framework speech on Tuesday. Maile repeated the optimism shared by Premier Panyaza Lesufi in his state of the province address earlier in March.

Lesufi’s address several weeks ago mentioned widespread investment initiatives, which Maile hailed as a “force multiplier” for growth in the province. The MEC noted that the province’s annual gross domestic product by region totalled R2.4 trillion, making up 33% of the country’s GDP and 10% of the whole of sub-Saharan Africa. Maile said the budget was formulated during a state of “elevated volatility” due to global tensions and deep structural challenges at the municipal level.

“We also table a budget that demonstrates appreciation for the fiscal reality that we are in, a budget that determines the need for pragmatism by ensuring that financial commitments are sustainable, not merely aspirational,” said Maile. Despite the province’s obstacles, Maile was defiant in his belief that the province had the resources to prove doubters wrong. “The audacity of hope is about the courageous and stubborn refusal to not succumb to cynicism, despair or fear in the face of daunting challenges. “Collective commitment is about bringing all stakeholders together in the quest to build and strengthen an economy that works for the people of Gauteng,” he said.