MEC for Finance, Belinda Scott and ABSA bank discuss Provincial Budget with Business in Durban
The MEC for Finance, Belinda Scott, in partnership with Absa Bank have emphasised the need for public private partnerships in a bid to rescue the economy of KwaZulu-Natal.
During the post-budget breakfast held with KwaZulu-Natal's business sector at the International Convention Centre, Durban, business people echoed the need for partnerships and of more involvement in the provincial budget processes in order to influence the province's growth path.
Andre Kipiela of Growth Coalition said KwaZulu-Natal indeed needs more public private partnerships. "If we adopt the partnership strategy just like China did, we certainly will improve the economy of this province".
Another businessman, Don Govender said, "as business, we need to have more of these budget discussions before the provincial budget is finalised so that we can influence the growth path of KwaZulu-Natal.
Scott said it is important to engage with business under the current circumstances. "It is tough and we have to take very hard decision. The concerns we have are: firstly, that our growing debt; we are spending more than we have and the salary bill is getting bigger and bigger; we have got to get it down by employing a number of measures. Secondly, we need a strong partnership with business and this will help us cut expenditure and grow the economy of this province".
She said the President, the National Finance Minister, the Premier as well as the MECs in KwaZulu-Natal are working together as a collective on this matter.
Speaking on behalf of Absa bank, Dante Mashile, said the budget was prioritising the delivery of health and education with much weighted allocation in those sectors.
"The budget was living up to the constitutional mandate of provincial government. The budget set a foundation for further social pact between government, labour and private sector in achieving the developmental objectives of KwaZulu-Natal.
"It is a prudent budget in a difficult economic context globally and nationally," said Mashile.
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Musa Cebisa
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Sibonelo Msomi
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