Please find below the full 2017 Budget speech as well as the highlights, as delivered by the Minister of Finance, the Honourable Pravin Gordhan this afternoon in parliament.
The following budget allocations to support economic growth over the MTEF are worth noting:
- R3.9 billion for small, medium and micro enterprises and cooperatives.
- R4.2 billion for industrial infrastructure in special economic zones and industrial parks.
- R1.9 billion for broadband implementation.
- R3.9 billion for the Council for Scientific and Industrial Research.
- An additional R494 million for tourism promotion.
- An additional R266m to support the aquaculture sector and realise the goals of the Oceans Economy Phakisa Operation.
- Spending on agriculture, rural development and land reform amounting to nearly R30 billion by 2019/20.
SACCI will issue our reactions to the Budget Speech through a press statement.