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Johannesburg faces R2.1bn funding gap as its bills mount
Johannesburg is starting a new financial year with a multibillion-rand budget that’s not fully funded, potentially deepening a crisis that’s already left it unable to pay for power and fuel supplies. South Africa’s biggest city is facing an unfunded budget gap of about R2.1-billion for the year starting July 1, according to a framework seen by Bloomberg News. The National Treasury attributed the shortfall to city revenue projections that appear overstated relative to audited results, according to the document.
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engineeringnews.co.za
Joburg’s high operating expenditure dubbed ‘utterly unsustainable’
New research into the crisis afflicting the City of Johannesburg warns that the widening structural imbalance between the metro’s operating expenditure and capital expenditure…
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iol.co.za
Johannesburg has taken a big new loan to help fix its electricity problems
National Treasury has set a guideline ceiling for total borrowing for each of the metros: it should not exceed 45% of total annual revenue.
