Rustenburg - The North West province needs a much faster growing economy that will create more job opportunities, Finance MEC Motlalepula Rosho said on Tuesday.
Tabling the R49.7 billion budget, Rosho said poverty, inequality and unemployment remains a problem in North West.
“The North West province recorded an unemployment rate of 35.7% in the third quarter of 2021 which was higher than the national figure of 34.9% for the same period. Compared to other provinces, North West province registered the fifth highest unemployment rate for that quarter,” she said.
“The province needs a much faster growing economy that will create more job opportunities. Recently, the economy has gradually started showing signs of recovery since all the sectors have been reopened. GDP growth for the country is projected at 2.1% for 2022 by National Treasury and is expected to average at 1.8% over the next three years.”
Rosho said the budget proposals tabled were geared towards stimulating the economy.
“We are also mindful of the unfortunate developments unfolding in eastern Europe involving Russia and Ukraine. This impasse could have a negative impact on our economic growth plans. The developments in that part of the world have caused uncertainties and are affecting global economic prospects.”
She said the total budget for the province amounted to R49.712 billion which was made up of the Provincial Equitable Share amounting to R39.540bn, R8.568bn for the Conditional Grants and R1.6bn from own provincial funding.
The department of education was allocated R20.346bn, the department of health received the second largest budget allocation in the province which accounts for 30.5% of the total provincial budget, the department was allocated an amount of R15.186bn.
The department of social development receives R1.654bn, the department of human settlements was allocated R1.921bn.
Rosho said the department of agriculture and rural development was allocated R1.2bn in the financial year growing to R1.3bn in the last year of the budget.
The Democratic Alliance in North West said the budget was not addressing the real challenges of the residents of the province.
“The Early Childhood Development programme transferred from the department of social development to the department of education is a concern and a risk. The department of education has, on two consecutive years, lost its conditional grants,” said Freddy Sonakile, the party spokesperson on finance.
“We are concerned about the funds allocated to economic development to support Small, Medium and Micro Enterprises (SMMEs) and the establishment of Special Economic Zones. Despite dishing out Covid grants in the most non-transparent manner, nothing much can be said about the department of economic development, environment, conservation and tourism’s work since its establishment in 2019. Despite its intended crucial mandate of being the lifeline that ensures the province rises from the Covid effects, the department is dead,” Sonakile said.
IOL