Chairperson ... [Interjections.] I hope I will be protected, as I'm making my maiden speech! [Laughter.] I have 10 pages to read for members and I'll just ask for an extension of time.
As we ask the House today to adopt this Medium-Term Budget Policy Statement, I just want to say that the world markets are facing a financial market meltdown which started in the USA. Also, some G7 members have already declared that, because of the globalisation of the economy, their countries are facing recession. Our country will not remain unaffected, as developing countries experience the worst impact.
As we know, South Africa is part of this global economy and faces the same economic challenges. However, South Africa has come up with policies to weather the storm and it will therefore survive. Economists are already predicting that, although South Africa will experience a low economic growth of about 3%, it will still keep afloat.
Chairperson, on behalf of the Joint Budget Committee, I would like to ask the House to adopt the Budget Statement as reflected in the ATCs. Thank you.
Debate concluded.
Question put: That the Report be adopted.
IN FAVOUR: Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Limpopo, Mpumalanga, Northern Cape, North West, Western Cape.
Report accordingly adopted in accordance with section 65 of the Constitution.