Dr. Xhakaza, MMC for Finance @ City oif Ekhurhuleni
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The City of Ekurhuleni has set aside R48.9bn for the 2019/20 financial year, 11.4bn more than the previous financial year. Tabling the budget and the integrated development plan at the council chambers in Germiston today, MMC for finance Dr Xhakaza said the increase for capital budget is as a result of the city’s commitment to investing in capital and infrastructure projects.
Xhakaza explained: “It remains critical for the city to invest in its infrastructure and productive sectors to progressively meet the needs of the communities and grow the economy."
The MMC also announced the increase of the operating expenditure to R41.5bn, R3bn more than the previous financial year. The operating expenditure is divided as follows:• Revenue generated internally - R32.83bn• Operating grants - R5.9bn• Capital grants - R2.78bn.
Xhakaza explained: “It remains critical for the city to invest in its infrastructure and productive sectors to progressively meet the needs of the communities and grow the economy."
The MMC also announced the increase of the operating expenditure to R41.5bn, R3bn more than the previous financial year. The operating expenditure is divided as follows:• Revenue generated internally - R32.83bn• Operating grants - R5.9bn• Capital grants - R2.78bn.
