BUDGET UNDER SCRUTINY: City manager insists Joburg is financially sound during grilling in Parliament
Facing threats from Finance Minister Enoch Godongwana to withhold funding, Johannesburg’s city manager, Dr Floyd Brink, told Parliament that rising revenue collections had stabilised the city’s finances. But its municipal entities have written off at least R45bn in fruitless and wasteful expenditure.
Johannesburg's city manager, Dr. Floyd Brink, has assured Parliament that the city's financial standing is stable, citing improved revenue collection. This comes amidst concerns from Finance Minister Enoch Godongwana regarding the city's fiscal health. Despite the city manager's claims of stabilization, Johannesburg's municipal entities have accumulated a significant amount of R45 billion in write-offs for fruitless and wasteful expenditure.
The financial stability of South Africa's largest city is crucial for its residents and the broader national economy, especially given the substantial accumulated wasteful expenditure.
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