Treasury MEC to deliver provincial budget in Lebowakgomo

POLOKWANE – The Limpopo MEC for Treasury Seaparo Sekoati will table the 2023/24 provincial budget on Tuesday (March 7) at a ceremony in the Lebowakgomo Legislative Chambers

According to Treasury, a budget announces all projected expenditure, income and borrowing over the next three financial years (referred to as the Medium Term).

Informed by political priorities in the medium term strategic framework, it functions to allocate resources to these priorities, while ensuring improved quality and effectiveness of public spending.

During the 2022/23 provincial budget speech, presented on March 8, 2022, Sekoati said treasury planned the budget objectively by identifying key projects with the hope of attracting investments, driving economic growth, creating jobs and ensuring development impact.

At the time, he gave 49.1% of the budget to the Department of Education with R36.445b in 2022/23, R36.771b in 2023/24 and R36.599b in 2024/25, while the Department of Health received the second highest allocation at 30.6% with R22.726b in 2022/23, R22.647b in 2023/24 and R23.164b in 2024/25.

It remains to be seen at this year’s tabling, which provincial government units and departments will face budgets cuts or increases according to their individual needs and which strategies or solutions will be brought up to develop the province.

Sekoati’s budget follows the Finance Minister Enoch Godongwana’s budget speech on on February 22 which detailed the allocation of funds across provinces and state utilities in the pursuit for higher growth in stabilising the macroeconomic framework to create a conducive environment for savings, investment and growth.

Sekoati will deliver his speech at 10:00 and it will be streamed live on social media for the public to watch.