Zikalala presents R800 million budget
KwaZulu-Natal Premier Sihle Zikalala says the province's economy has taken a knock due to the unforeseen COVID-19 pandemic.
Zikalala was presenting his office's budget policy speech at the Provincial Legislature on Tuesday.
"The total budget for the Office of the Premier for the 2020/21 financial year is over R800 million."
"We are learning from this pandemic and will ensure that it does not become a missed opportunity for the fundamental transformation of our economy."
About R97.6 million has been allocated to Strategic Human Resources, R93.6 million to Information Communication Technology, R55.1 million to Financial Management.
Zikalala says assistance for 60% of KZN residents who live under the poverty line will come from the Premier's Priority Programmes Unit, which has been allocated with R97.6 million.
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The estimated GDP contraction in KZN is R26 billion
The premier says these are challenging times for the whole country.
"Our economy faces even more difficulties. Our critical tourism and hospitality sector has been hardest hit, and it may take a while before it fully recovers.
"The downgrading of South Africa to sub-investment status by all the rating agencies means that our country will be paying more for its borrowing. This will make our economic recovery even more challenging."
