Gauteng Finance MEC Mandla Nkomfe on Tuesday set aside R36,1-billion for the implementation of the province’s infrastructure investment programme up to 2014.

The largest share of R17-billion was allocated to the building of new infrastructure, with the balance going to big projects such as the Gautrain, as well as expenses relating to maintenance, repair, upgrading, additions, rehabilitation and refurbishment.

Nkomfe said that adequate public sector investment was needed to support businesses in the private sector, which he described as the engine of growth.

“The public sector must provide critical goods such as infrastructure, which cannot be adequately provided by the private market and without which the private sector cannot thrive.”

With only 1,4% of South Africa's land area, Gauteng contributes 33% to the national economy and 10% to the gross domestic product growth of the entire African continent.

The MEC said that infrastructure spending and development would be at the core of the province’s aims of meeting basic needs, while simultaneously improving the productive capacity of communities and creating additional employment.

“Specific focus will be put on strategic infrastructure investment aimed at lowering the cost of economic participation, with a high priority on rail, roads, freight, transport and information communication technologies including the roll out of broadband.”

Nkomfe said that Gauteng’s Department of Finance was mindful of the slow spending that had been experienced with regards to infrastructure investment post the 2010 soccer World Cup.

“We have analysed the fundamental causes of this problem and are collaborating with other departments to resolve these causes going forward.”

Public infrastructure investment also forms part of the province’s 2055 vision, the Gauteng Employment Growth and Development Strategy (GEGDS).

Other pillars of the strategy included industrial policy, the green economy, inclusive economy initiatives and social impact assessments.

The GEGDS aims to transform Gauteng’s economy to meet the basic needs of its people by 2055, or what Nkomfe termed “the dawn of the perfect day”.

The total amount budgeted for the 2011/12 financial year amounted to R67,6-billion and was estimated to grow to R71,9-billion in 2012/13 and R75,9-billion in 2013/14.

Meanwhile, Nkomfe said that Gauteng is studying the feasibility of reviewing some of its taxes to “optimise” this revenue source.