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PROVINCIAL TREASURY

PROVINCE OF KWAZULU-NATAL PROVINCIAL TREASURY ADJUSTMENTS ESTIMATE budget speech 2017/18 2 Province of KwaZulu-Natal Address by Scott MEC for Finance The Adjustments Estimate 2017/18 23 November 2017 A. ECONOMIC REVIEW AND OUTLOOK AND THE FISCAL IMPLICATIONS Introduction Madam Speaker, honourable Members of the PROVINCIAL Legislature, colleagues, people of KwaZulu-Natal, ladies and gentlemen, last month the Honourable Finance Minister, Malusi Gigaba delivered his brutally honest maiden Medium Term budget Policy Statement. It was clear in his candid speech that the country is faced with many challenges, which include a poor performing economy, a growing budget deficit, a projected decline in tax revenue, the threat of further credit rating downgrades and a high unemployment rate.

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