Government aimed to fast-track certain “fast-growing” infrastructure programmes, despite cutting back on expenditure over the next few years, Finance’s 2014 Medium-Term Budget Policy Statement (MTBPS) revealed on Wednesday.
While National Treasury lowered its expenditure ceiling, which would require some downward adjustments in government’s spending plans over the next two years, certain projects and initiatives would remain intact.
These included post-school education and training; employment; labour affairs and social security funds; housing development and social infrastructure.
A National Treasury allocation of R560-billion, growing by 8.1% a year, would accelerate housing and social infrastructure development, including electricity, potable water, sanitation and public transport infrastructure over the next three years.
The completion of major energy, transport and logistics projects over the medium term would boost the growth potential of the economy.
Government planned to shift funds from existing road allocations at provincial and national level to the Moloto road project.
By: Natasha Odendaal