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Debt to metro councils rises

Cape Town - Money owed to metropolitan municipalities has grown by almost 20% over the past year, according to a local government revenue and expenditure statement released by Treasury on Friday.

The statement covers the period July 1 2010 to June 30 2011.

"Metropolitan municipalities were owed R36.6bn in outstanding debt as at June 30, 2011. This represents an increase of R6.0bn or 19.7%, from the fourth quarter of the 2009/10 financial year."

According to the statement, Johannesburg's outstanding debt is the highest of any metro.

"The City of Johannesburg's share in this increase is R3.6bn, or 60%. (Its) outstanding debt has grown by 44% year-on-year, the highest of any metro."

Among other things, the statement also finds municipalities' cash flow situations have improved, compared to previous quarters of this financial year.

"This is largely as a result of significant underexpenditure of both the operating and capital budgets by municipalities," it says.

 
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