KZN Treasury announces withdrawal of provincial budget
Finance Minister Enoch Godongwana is set to table a third attempt at the budget on the 21st of this month.
FILE: KZN MEC for Finance, Francois Rodgers. Picture: @KZNTreasury/X
JOHANNESBURG - KwaZulu-Natal Treasury has announced the withdrawal of the provincial budget for the 2025/2026 financial year.
This was after the first two versions of the national budget failed when political parties objected to an increase in the value-added tax rate.
Finance Minister Enoch Godongwana is set to table a third attempt at the budget on 21 May.
Thereafter, KZN Finance MEC Francois Rodgers will have 14 days to table his provincial budget.
For now, the MEC said that provincial departments would use funds not exceeding 45% of last year's budget pending the finalisation of the process.
KZN Treasury spokesperson Nkosikhona Duma said that they would consult National Treasury on the next steps.
"The process to be followed and the exact date for the re-tabling of the new KZN appropriation bill will be communicated in due course, after consultation with the National Treasury. Government services will continue to operate normally as departments are legally permitted to utilise amounts not exceeding 45% of the previous year's budget pending the finalisation of the budget process."