00:00

Western Cape Provincial Treasury 2024 Budget Overview

The 2024 budget for the Western Cape Province focuses on navigating economic uncertainties and aligning policy, planning, and budgeting processes. The budget process is collaborative and inclusive, addressing fiscal challenges and economic growth prospects. Despite positive socio-economic trends, risks such as global economic challenges, technological threats, and environmental issues are acknowledged. The budget aims to sustain growth and service delivery amidst a volatile economic environment.

bogatu
Download Presentation

Western Cape Provincial Treasury 2024 Budget Overview

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Provincial Treasury THE 2024 BUDGET “A budget to keep building a Western Cape that works” Budget Committee Ms J Gantana 7 March 2024

  2. Outline 2024 Budget process Economic and Fiscal Context Budget Policy and Service Delivery Risks 2024 Budget Approach The 2024 Budget Concluding Remarks BUDGET COMMITTEE: 2024 BUDGET 2

  3. What sets the 2024 MTEF Budget apart

  4. 2024 Budget Process – more collaborative, sharing of information and inclusive Phase 3 focused on the WCG’s response to the reduced fiscal envelope and related pressures over the 2024 MTEF Phase 1 focused on navigating the fiscal uncertainty by applying a scenario- based and risk-led approach Phase 2 introduced the road toward certainty through the 2023 Adjustments Budget that aimed to achieve in-year fiscal sustainability BUDGET COMMITTEE: 2024 BUDGET 4

  5. The 2024 Budget Process in Action – aligning policy, planning and budgeting 1 • Departmental Technical engagements / NT Virtual Provincial Visits • Bilateral engagements with Departments • Cabinet Bosberaad • Budget Circular 1 • Tabling of the PERO and MERO Budget Preparation June – Sept 2023 • Budget Circular 2 • PG MTEC 1 • 2023 Adjusted Budget allocations • 2024 MTEF Preliminary allocations • HOD Workshop • Second Draft Budget submissions • Budget Circular 3 • Draft Annual Performance Plans (APP) 2 The 2024 Budget: MTBPS and Adjustments Budget Oct – Dec 2023 A budget to keep building a Western Cape that works 3 Extensive bilateral and function group engagements: collaborative decision- making highlighted by stakeholder engagements through Health, DSD, and Education; Engagements with local government • PG MTEC 2 • HOD workshop • Cabinet Bosberaad • Final draft budget submissions • OPRE, EPRE, OPMII • Final APPs Main Budget Jan – Mar 2024 BUDGET COMMITTEE: 2024 BUDGET 5

  6. 2024 Budget: Economic and Fiscal Context

  7. Turbulent economic environment persists Repo rate and inflation trends in South Africa, Jan2019 - Jan2024 South African long-term GDP growth trends, 1996 - 2025 Long-term declining economic growth trend for SA and WC, points to structural challenges. The national economy is expected to expand by 1.7% in 2024 and by 1.8% in 2025. The Western Cape economy is expected to expand by 2.1% in 2024 and 1.7% in 2025. In 4Q2024, the Western Cape surpassed pre-pandemic employment levels by 10.2%. SA’s latest inflation rate (5.3%) is still within target target (3 - 6%).Possible repo rate cuts later in the year. Bulk of the tourism recovery occurred in 2023, when the number of foreign overnight visitors at CT International Airport increased by a staggering 53.1 % from the previous year. Western Cape cumulative growth in GDP and employment, 2020 Q1 - 2024 Q4 BUDGET COMMITTEE: 2024 BUDGET 7

  8. GDP growth: South Africa lagging behind other emerging and developing countries Share of global GDP (PPP, current) (Per cent) 2022 100 41.1 15.5 11.7 58.9 18.9 7.5 0.8 0.1 0.6 GDP growth GDP growth forecast Per cent (Per cent) 2022 3.0 2,5 1.9 3.4 3.7 3.0 7.2 3.3 3 1.9 2023 (e) 2.6 1.5 2.5 0.4 4.0 5.2 6.3 2.9 0.5 0.6 2024 2.4 1.2 1.6 0.7 3.9 4.5 6.4 3.3 2.8 1.7 2025 2.7 1.6 1.7 1.6 4.0 4.3 6.5 3.7 3.1 1.8 World output Advanced economies United States Euro Area Emerging and developing countries China India Nigeria Angola South Africa SA’s growth prospects for 2024 (1.7%) is significantly lower than Emerging and developing countries (3.9%). India: Among the fastest growing economies in the world. Infrastructure will drive growth (transport and logistics) Nigeria: Accelerated growth for 2025 onward based on loosening of monetary policy and the newly deregulated power sector. China: Stimulus included interest rate cuts and reduced deposit requirement reductions. BUDGET COMMITTEE: 2024 BUDGET 8

  9. WC Socio-economic context: Positive trends but challenges remain Unemployment rate among race, education and age cohorts in the WC, 4Q2019 vs 4Q2024. Western Cape population growth 2011 – 2022 (Census, 2022) Cumulative growth of major crime categories in the Western Cape, 2019-2023 Western Cape districts Gini coefficient 2018 - 2022 BUDGET COMMITTEE: 2024 BUDGET 9

  10. Related Budget Policy and Service Delivery Risks

  11. Economic and Fiscal Risks Global Risk (WEF) National Risk (NT) Technological AI-generated misinformation Cyber security Environmental Extreme weather events Pollution Societal Social polarization Lack of economic opportunity Involuntary migration Geopolitical Interstate armed conflict Economic Inflation Economic downturn   Floods Droughts     Risk of social unrest Extreme food insecurity Deteriorating living conditions due to service delivery failures       Global conflicts and uncertainties   Geo-political conflict and subsequent impact on oil price, and global trade Weaker-than-expected economic growth Impact of mining commodity prices on national tax revenues. Inflation rate movements and its effect on SARB’s repo rate decisions. Debt crisis A weaker exchange rate, which could pose risks to domestic and foreign debt portfolios Deterioration in the balance sheet of major public-sector institutions Fiscal consolidation crowding out service delivery whilst the growing demand for services           BUDGET COMMITTEE: 2024 BUDGET 12

  12. Provincial Budget Policy and Service Delivery Risks that the Budget responds to Growth for Jobs Safety Funding Shortfalls Impact Community Safety: Reduced resources hinder effective safety strategies and interventions. Reduction in Small, Medium, and Micro Enterprises (SMMEs) and Township Economies projects potentially risk service delivery, impacting youth employment efforts. Stakeholder Partnership Quality: Essential for public safety, the effectiveness of our partnerships impacts overall security. Loadshedding's detrimental effects on businesses and households. Challenges in Alcohol Harm Reduction: Enforcement difficulties could lead to increased alcohol-related issues. Increases in direct operating costs of the George Integrated Public Transport Network placing pressures on budgets. Limitations in disaster risk management capabilities. Support for Vulnerable Youth Limited: Constraints in youth support programmes affect their safety and development. Funding reductions for the Integrated Transport Hub project affects data-driven and transversal approach. Increased Risk in Security Services: Security for government departments faces heightened risks to personnel and assets. Lower investment in regional socio-economic (RESP) initiatives. Reduced maintenance budget for roads and buildings. Policy changes in national human settlements impact service delivery and funding. Insufficient funds for repairing flood-damaged roads and climate- resilient infrastructure, posing future risks. Reductions in grant funding for land reform efforts. Risks to food security and market access from animal diseases and natural disasters. BUDGET COMMITTEE: 2024 BUDGET 13

  13. Provincial Budget Policy and Service Delivery Risks that the Budget responds to [2] Wellbeing Innovation, Culture, and Governance Reductions impact Vulnerable Populations: services for the most vulnerable are at risk. Limited Youth Engagement Opportunities: Limited outreach and development opportunities. Mental Health as a Priority: Emphasising the importance of mental health services. Healthcare Budget Constraints: Essential healthcare items at risk due to budgets not keeping pace with medical inflation. Rising Medico-Legal Litigation: An increase in litigation cases, including medico-legal claims. Strain from Increasing Learner Numbers: strain on educational resources. Early Learning Access Gap: Challenges in achieving universal access. Education Programmes: Reductions could hinder progress in key learning outcomes. Equitable Share Formula Changes: Proposed changes to funding allocation could impact education and health sectors. Infrastructure Project Delays and funding Reductions: Risk of not completing essential mega infrastructure projects and maintaining existing infrastructure. Software License Cost Risks: Potential for increased expenses on Microsoft software licenses. Cybersecurity Challenges: Ongoing management of evolving cybersecurity risks. Workplace Culture and Wellbeing: Monitoring the impact of cultural changes on staff wellbeing. Fiscal Sustainability Concerns: Reductions in funding raise concerns over fiscal stability. Regulatory Environment Fluctuations: Unpredictability in public sector supply chain regulations. Challenges in Local Governance: Instability and difficulty retaining skills in some municipalities. Municipal Support Reduction: Decreased support risking financial crises in municipalities. Revenue Generation Strategies: Need for enhanced strategies to increase gambling revenue and explore alternative provincial revenue sources. Archival Space Limitations: Inadequate space for preserving historical records. Vacancy Rates Affect Service Delivery: Unfilled positions impact the ability to provide services and staff wellbeing. BUDGET COMMITTEE: 2024 BUDGET 14

  14. And therefore, our approach to Budget 2024

  15. 2024 Budget Policy Principles: Taking a values-driven approach Unlock allocative efficiency Protect basic services outcomes Enable long- run fiscal sustainability Enhance productive efficiency Repositioning existing plans and budgets to respond to the WCG’s priorities of Growth Safety, Wellbeing enablers of Innovation, and Governance. Managing obligations existing resources. expenditure risks Strategic composition of expenditure, such as compensation ceilings, transfers strategy, capital payments, etc. approach applied to and within for and Jobs, the Culture Identifying generate additional revenues, including reviewing charges and revenue sources. opportunities to Reviewing measures to streamline functions and activities across departments through improved and functional reassignment. and proposing existing new exploring coordination Rebuilding reserves to maintain a sustainable fiscal base for the WCG. BUDGET COMMITTEE: 2024 BUDGET 16

  16. Allocative efficiency: Budget Policy Priorities and Spending Plans over the 2024 MTEF Innovation, Culture, & Governance Growth 4 Jobs Safety Wellbeing •Energy •Law enforcement •Health services •Innovation for impact •Ease of doing business •Violence prevention •Mental wellbeing •Citizen centric •Investment •Upgrade of urban spaces •Education and learning •Governance transformation •Market access •Meeting basic needs •Integrated service delivery •Infrastructure •Youth development •Talent and staff •Work opportunities and development skills •Digital transformation •Mobility •Economic resilience To give effect to allocative efficiency our budget policy priorities are centered around the priorities of Growth for Jobs, Safety, Wellbeing, and Innovation, Culture and Governance 17 BUDGET COMMITTEE: 2024 BUDGET

  17. Enhancing Productive Efficiency Productive Efficiency Compensation of Employee Strategy Infrastructure investment and development Transfers The WCG closely monitors municipal transfer allocations due to decreased national funding, focusing on maximizing resource efficiency and enhancing support mechanisms for effective service delivery amidst fiscal consolidation. Facing fiscal constraints and demographic shifts, the Western Cape prioritizes accessing alternative funding for increasing infrastructure demands, balancing new projects with essential maintenance within a tighter budget framework In the 2023/24 financial year, provinces managed unexpected in-year financial pressure from unfunded wage increases and economic challenges by prioritizing cost-effective staffing and innovative service delivery in essential sectors Enablers to enhance Productive Efficiency Supply Chain Management and Procurement Planning Evidence Based Decision Making Expenditure Reviews The WCG is advancing towards a performance-led approach by enhancing financial systems with Business Intelligence and application development for better decision-making, focusing on data management and resource capacity building The analysis of expenditure data to uncover efficiencies in the delivery of services. 3 expenditure reviews were undertaken in 2023/24 to optimize CoE management, evaluate administration spending, and analyze health programme expenditures The WCG enhances productive efficiency with an agile SCM strategy, linking procurement to budget planning, leveraging data for informed decisions, and fostering innovation in procurement through its eProcurement System and a PDIA approach BUDGET COMMITTEE: 2024 BUDGET 18

  18. Our Budget Policy response

  19. Budget Policy Priorities and Spending Plans over the 2024 MTEF Growth for Jobs R45.35 Billion • George IPTN (WCMD) • Ease of Doing Business (DEDAT) • Employability (Skills & Entrepreneurship) (DEDAT) • Tech and Innovation (DEDAT) • Investment Promotion and Market Access (WESGRO) • Energy Resilience (incl. municipal support & grid infrastructure upgrades) (DoI, DLG, DotP, WCED, DEDAT) • Infrastructure Investment (maintenance and construction) (DoI) • Education Infrastructure (WCED) • Job Seeker Voucher (WCMD) The Western Cape Energy Resilience Programme (WC ERP) aims to reduce the impact of loadshedding on the Province: R759.207 million has been allocated over the 2024 MTEF to increase energy resilience in the Province. • Freight strategy (WCMD) • Climate Change Governance (DEA&DP) • SMMEs/ Township Economies (DEDAT) • Environmental Impact Assessment efficiency (DEA&DP) Safety R5.088 Billion • Waste Management (DEA&DP) • Atmospheric Emissions Licenses (DEA&DP) • Farmer Support (AGRI) • Improved Access to Economic Opportunities and Employability (DEDAT) • Provincial Policing Functions programme (i.e., LEAP & LEAP Deployment stations) (POCS) • Safety Partnerships (NHWs, CPFs) (POCS) • Integrated Transport Hub (WCMD) • Provincial Traffic Law Enforcement Operations (WCMD) • K9 Units (POCS) • Chrysalis Academy (POCS) • Violence Prevention Unit • (Health & Wellness) • Water Resilience (DLG) • Disaster Resilience (DLG, AGRI) • Area-Based Teams (Health & Wellness) • Gender Based Violence (DSD) • Liquor Inspectorate Capacity (WCLA) • Support to rail services (WCMD) • Rural Safety (AGRI) • Market Access (AGRI) • Export and Domestic Markets (incl. Tourism) (DEDAT) • Regional Socio-economic Projects (DEA&DP) • Mixed Housing (DoI) • Western Cape Infrastructure Framework 2050 (DoI) • Expansion and Maintenance of Cape Access Centres (DOTP) • • Cape Nature transfer (DEA&DP) • Broadband services (DoTP) BUDGET COMMITTEE: 2024 BUDGET 20

  20. Budget Policy Priorities and Spending Plans over the 2024 MTEF Innovation, Culture, and Governance Wellbeing R182.3 Billion R21.87 Billion • Food relief (DSD) • Child Protection (DSD) • Public Private Partnerships Programme (WCED) • Effective Local Governance: Financial sustainability of municipalities (PT) • Integrated Provincial Governance (PT) • Rapid School Build (WCED) • Persons with Disabilities (DSD) • Early Learning Programme (WCED) • Older Persons Services (DSD) • JDMA and IGR promotion (DLG) • Substance use disorder (SUD) services (DSD) • Back on Track Programme (WCED) • Strategic Supply Chain Management (PT) • Cyber security (DOTP) • Special Needs Education (WCED) • Social Crime Prevention (DSD) • Youth Development & Afterschool (DCAS) • Local government engagements, evaluations (AGRI • Innovative Infrastructure Funding Capacity Building (PT) • School feeding (WCED) • Mental health services and psychosocial support (DH&W) • Support to HWC (DCAS) • Early detection & prevention health strategies (DH&W) • Information Literacy (books and eBooks) (DCAS) • Support to Affiliated Museums (DCAS) • One Health (DH&W) • Babies under 1 year immunised (DH&W) • Thusong Centres (DLG) • Library services (DCAS) • Total allocations towards Budget Policy Priorities over the 2024 MTEF, including additional allocations • The total allocations excludes the allocation made to Provincial Parliament BUDGET COMMITTEE: 2024 BUDGET 21

  21. Our Fiscal response

  22. Provincial Fiscal Framework (1) Notes: i) Provincial Equitable Share: Net increase of R 3.7 billion over the MTEF, mainly for wage carry through costs for health and education Conditional grants: Net reduction of R 1.1 billion over the MTEF (mainly HSDG, ISUP & EPWP) Own receipts: Increase within Vote 6 (R16 million p.a.) and a reduction within Vote 13 (R2.827 million over the MTEF) iv) MVL fees expected to increase by 4.5% in 2024/25 with inflationary increases over the remainder of the MTEF (more detail to follow) ii) iii) v) The WCG Fiscal Futures project will develop approaches to: Revenue issues (Provincial Equitable Share, Conditional Grants, Own Revenue Source; and Long run expenditure trajectory for Health, Education, amongst others • • 23 BUDGET COMMITTEE: 2024 BUDGET

  23. Changes to Provincial Equitable Share BUDGET COMMITTEE: 2024 BUDGET 24

  24. Highlights of Conditional Grants: WC Province cut by R1.135 bn over the 2024 MTEF Infrastructure • Provincial Roads Maintenance Grant increased by R354.382 million • Human Settlements Grants reduced by R621.429 million • Informal Settlements Upgrading Partnership Grant reduced by R841.429 million Health • National Tertiary Services Grant: increases by R150.201 million • Human Resources and Training Grant: increases by R20.878 million • District Health Programmes Grant: reduces by R180.151 million • Health Facility Revitalisation Grant: reduces by R69.948 million Education • National Schools Nutrition Grant increased by R18.253 million • Infrastructure Grant increased by R36.440 million Agriculture • Ilima/Letsema Projects Grant reduces by R19.347 million • Comprehensive Agricultural Support Programme Grant reduces by R13.352 million. Cultural Affairs & Sport • Community Library Services Grant reduced by R16.330 million 25 BUDGET COMMITTEE: 2024 BUDGET

  25. Enabling Long-Run Fiscal Sustainability: Reserves Provincial reserves amount to R2.4 billion over the 2024 MTEF Reserves are held by the Province to stabilise the fiscal framework against future volatilities to the PES and Conditional Grants allocations To fund additional service delivery pressures To fund unforeseen and unavoidable events having an impact on the fiscal framework To mitigate the economic and socio-economic impact of loadshedding BUDGET COMMITTEE: 2024 BUDGET 26

  26. Final 2024 MTEF Vote allocations: MTEF to MTEF BUDGET COMMITTEE: 2024 BUDGET 27

  27. 2024 Budget in Practice: What it Buys, where it’s Spent and on Whom

  28. Protecting Basic Services for Poor and Vulnerable with Growth as an Enabler Protecting over demonstrated focused on education, health, and social services. basic next outcomes years spending Spending on Social Outcomes over 2024 MTEF by Vote (R‘000) the 3 is by 30,000,000 25,000,000 20,000,000 Expenditure infrastructure, education infrastructure, is a central component WCG’s social response. on social 15,000,000 including 10,000,000 of the 5,000,000 0 2026/27 Investment safety and violence prevention is also a key feature of the WCG’s spending plans over the 2024 MTEF into community 2025/26 2024/25 Investments in public transport and infrastructure. R192.21 billion (75.3 %) of the WCG’s budget over the2024 MTEF goes towards protecting social outcomes 2024/25 2025/26 2026/27 BUDGET COMMITTEE: 2024 BUDGET 29

  29. Infrastructure investment amounts R32.129 billion over the 2024 MTEF The summary of infrastructure payments and estimates by Nature of Investment: The bulk of the Province’s infrastructure investment is allocated towards existing infrastructure, amounting to R20.050 billion (67%) over the 2024 MTEF. A total of R8.401 billion is allocated to Maintenance and Repairs, R7.534 billion for Refurbishment, Renovations, and Rehabilitation (R, R and R), and R4.114 billion for Upgrades and Additions. New Infrastructure accounts for R3.028 billion (10%) of the total infrastructure investment over the 2024 MTEF, whilst the Infrastructure Transfers allocation is R5.834 billion, and Non-Infrastructure is R1.213 billion. BUDGET COMMITTEE: 2024 BUDGET 30

  30. Top ten infrastructure projects in the Province over the 2024 MTEF BUDGET COMMITTEE: 2024 BUDGET 31

  31. 2024 MTEF: Spatial Distribution of Planned Infrastructure Expenditure in the Western Cape (R’000) Across Districts R 6 146 Million 20.4% West Coast R 2 727 Million 9.1% Central Karoo R 549 000 1.8% Cape Winelands R 5 164 Million 17.1% City of Cape Town R 10 844 Million 36.0% Garden Route R 2 853 Million 9.5% Overberg R 1 844 Million 6.1% The 2024 MTEF allocation for infrastructure amounts R30.126 billion (excluding Virtual, Catalytic and Agricultural Infrastructure) BUDGET COMMITTEE: 2024 BUDGET 32

  32. 2024/25 Spatial distribution of total provincial Budget per District and Metro Provincial-wide R84 005 bn Total population 7 433 020 Cape Winelands District R10.862 bn 12.9% Total population: 862 703 R12 591 per capita West Coast District R4.703 bn 5.6% Total population: 497 394 R9 455 per capita Central Karoo District R1.149 bn 1.4% Total population: 102 173 R11 243 per capita Cape Town Metro R55.740 bn 66.4% Total population: 4 772 846 R11 679 per capita Garden Route District R7.849 bn 9.3% Total population: 838 457 R9 361 per capita Overberg District R3.361 bn 4.0% Total population: 359 446 R9 349 per capita The WCG Departments is set to spend R255.294 billion from the Provincial budget in the 30 municipalities in the Western Cape over the 2024 MTEF (R84.005 billion in 2024/25) Two-thirds (67.2%) will be spent in the Cape Town metropolitan area, noting that the Metro has 64.2% of the Province’s population The Cape Winelands District (CWD) receives the highest per capita provincial budget allocation at R12 591, followed by the Cape Town metropolitan area at R11 679 and the Central Karoo District (CKD) at R11 243. In 2024/25, the largest share of Provincial expenditure in the various municipal areas is allocated to the social sector (R65.546 billion; 78.0%). BUDGET COMMITTEE: 2024 BUDGET 33

  33. Allocation per economic classification Composition of spend (Econ): 2020/21 to 2026/27 Compensation of employees: Largest spending item on the budget – 54% 100% Increasing largely due to the effect of the wage agreement (partially 6% 6% 6% 7% 7% 8% 8% funded) and fiscal consolidation 15% 16% 17% 18% 16% 16% 15% 80% corroborated by the concomitant decrease seen in Non-personnel Transfers and subsidies (T&S): 22% 22% 23% 22% 23% 23% 23% Averages 15% over the medium term and mainly relates to transfers to NPIs within the Department of Education for the Norms and Standards allocation to schools, and • and payments by Social Development for social services Good and Services (G&S): 60% • 40% 56% 56% 54% 54% 53% 53% averaging 22 percent over the medium term 53% 20% Decrease from previous periods due to offset pressures on CoE and fiscal consolidation Payments for Capital Assets (PoCA): 0% 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26 2026/27 8% of total allocation, of which, R5.8 billion relates to infrastructure Financial Years PoCA T&S G&S CoE BUDGET COMMITTEE: 2024 BUDGET 34

  34. People – our most important resource: as a percentage of the total Headcount per Vote Western Cape members of Staff, Our critical success factor BUDGET COMMITTEE: 2024 BUDGET 35

  35. Concluding remarks

  36. The 2024 Budget in a nutshell: Tough choices made, hard work still ahead The 2024 Budget is a budget that ensures long term economic stability and a future for all its citizens through A budget to keep building a Western Cape that works R182.359 billion to support a healthy population with access to medical and mental health care, to properly prepare children for the future with the support and skills they need to succeed, and to meet basic needs so that citizens are cared for along their entire life’s journey. R45.359 billion to boost economic growth to create opportunities and employment for our citizens. R759.207 million set aside to increase energy resilience. R32.129 billion over the 2024 MTEF is allocated to infrastructure investment across the priority areas. Infrastructure maintenance and development remains a priority for the Province, covering essential sectors such as roads, education facilities, and healthcare. R21.876 billion to entrench innovation, culture, and governance as a pillar of how the WCG approaches challenges and solves them. R5.088 billion to make sure citizens are and feel safe in their communities. Total Compensation of Employees (CoE) budget amounts to R45.645 billion and constitutes 54.3% of the 2024/25 budget, which Is the lowest cost: employee ratio in the country. Over the 2024 MTEF, CoE spending is expected to increase (3.8%, AAGR) by less than expected inflation (4.7%), which is essential for continued budget sustainability. Partial drawdown of WCG provincial reserves to support growth, citizen safety, and essential services due to reduced Provincial Equitable Share and Conditional Grant transfers. Plans are in place to restore provincial reserves over the medium term and this will be done by implementing the WCG’s budget principles. Ongoing focus will be placed on managing and mitigating budget policy and service delivery risks through fiscal and non-fiscal measures. “A budget to keep building a Western Cape that works” • BUDGET COMMITTEE: 2024 BUDGET 37

  37. Thank you TMS Chase

  38. Annexure: Diagrammatic representation of sector budgets

  39. Social sector budget summary, 2024/25 BUDGET COMMITTEE: 2024 BUDGET 40

  40. Social sector budget summary, 2024/25 [2] BUDGET COMMITTEE: 2024 BUDGET 41

  41. Social sector budget summary, 2024/25 [3] BUDGET COMMITTEE: 2024 BUDGET 42

  42. Economic sector budget summary, 2024/25 BUDGET COMMITTEE: 2024 BUDGET 43

  43. Economic sector budget summary, 2024/25 [2] BUDGET COMMITTEE: 2024 BUDGET 44

  44. Economic sector budget summary, 2024/25 [3] BUDGET COMMITTEE: 2024 BUDGET 45

  45. Governance and Administration sector budget summary, 2024/25 BUDGET COMMITTEE: 2024 BUDGET 46

  46. Governance and Administration sector budget summary, 2024/25 [2] BUDGET COMMITTEE: 2024 BUDGET 47

More Related