Lebogang Maile, MEC for Finance and economic development, presented Gauteng’s medium term policy statement (MTBS), yesterday.
He said during the sharp contradiction of 2020, South Africa’s GDP declined by 6.2 percent to R4.30 trillion at constant 2015 prices.
Following this, the economy bounced back by a 5.0 percent growth in 2021, reaching R4.30 trillion.
But this was off a low base set during the COVID-19 pandemic.
Global economic performance, particularly among South Africa’s major trading partners, has often had an influence on the performance of the domestic sector of the economy.
Maile said Gauteng’s budget will be adjusted by about R2.1bn.
A chunk of the R135 million allocated to the premier’s office, will go towards outstanding Life Esidimeni claims (R73.9m).
Another amount of R57.4m, to the to the commission of inquiry into the Usindiso building fire; and about R4.2m to the South African Police Service security at the commission of inquiry.