Appropriation Act, 2024 is assented
December 11, 2023
The Appropriation Act, 2024, was assented by the President of the Republic, Mr. Wavel Ramkalawan on Wednesday 06th December, 2023, just two days after the National Assembly approved the Bill.
The Appropriation Act makes provision for a total budget of R10,640,628,966, to be allocated for next year.
Minister Naadir Hassan presented the 2024 budget speech on Friday 03rd November, before the National Assembly. The 2024 Budget is focusing on investments in the community, infrastructure, people and providing tax breaks and incentives for businesses.
The entity with the biggest budget allocation for 2024 is the Ministry of Education - R1,348,779, followed by
Benefits and Approved Programs of Social Protection Agency with an allocation of R1,252,000 and the Health Care Agency with a budget of R1,203,260.
The smallest amounts allocated are for the Social Workers Council, with a sum of R760,000, and the Government Audit Committee for a sum of R868,000.
In his budget speech, Minister Hassan emphasised on the need to continue to consolidate on the gains made in the past three years, in the aftermath of the COVID 19 pandemic, ensure the sustainability of the budget and the country’s debt.
He pointed out that while the economic is doing well, the government will continue to be cautious of spending, given the uncertainties the world is facing, which have a direct impact on the country.
“Government must remain prudent and responsible with regards to its expenses in 2024, and in the medium term.”