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City of Tshwane's 'pivotal' fully-funded draft budget hailed

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While South Africa's national budget faces uncertainty, the City of Tshwane has unveiled a fully-funded draft budget that reduces property rates by 4% and keeps utility tariffs below inflation. The coalition government is absorbing costs to shield residents,
The City of Tshwane has introduced a fully-funded draft budget for the 2023/24 fiscal year, which has been met with approval from the Democratic Alliance (DA). This budget, amounting to R50.6 billion, focuses on enhancing service delivery, infrastructure development, and financial stability. Key aspects include a significant investment in infrastructure with R2.7 billion allocated for repairs and maintenance, and R1.8 billion for new capital projects. It also proposes a 5.3% increase in property rates, a 2% hike in electricity tariffs, and a 9.2% rise in water tariffs, while sanitation tariffs will increase by 9.2% and refuse removal by 6%. The budget aims to address the city's financial challenges by reducing reliance on loans, with only R1.1 billion in external loans planned, and emphasizes cost containment and revenue enhancement. The DA-led administration has been commended for its efforts to stabilize the city's finances, which were previously strained by issues like the mismanagement of the Rooiwal wastewater treatment plant.

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[ https://www.msn.com/en-za/politics/government/city-of-tshwane-s-pivotal-fully-funded-draft-budget-hailed/ar-AA1BYy4y ]