Gov't seeks P37bn to revive economy

According to documents before Parliament this week, government is proposing P14.5 billion for funding under a final version of the Economic Recovery and Transformation Plan (ERTP) and another P22 billion as the cumulative budget shortfall from 2020/21 to 2022/23.

Finance and Economic Development minister, Thapelo Matsheka is asking legislators to approve the new funding as part of the revised Mid-Term Review of NDP 11, with the ERTP as an addendum. The Mid-Term Review contains government’s planned projects and policies for the balance of NDP 11 to March 2023, with the ERTP essentially reprioritising and accelerating these. Members of Parliament (MPs) will on Monday debate the new proposals, which include a list of priority infrastructure projects and policy initiatives designed to promote export-led growth, improve the efficiency of government spending and financing, develop human capital and boost investment in infrastructure.