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Get creative, Mboweni tells councils looking for infrastructure funds

Get creative, Mboweni tells councils looking for infrastructure funds South African Cities Network

Minister of Finance Tito Mboweni’s 2019 Budget review urged municipalities to ease their dependence on the national fiscus for infrastructure funding and instead attract private investment and take advantage of incentives that reward good governance.

 

The Budget review said infrastructure grants would be changed to increase flexibility and incentivise private financing.

It said policy around municipal borrowing would also be reviewed with a view to getting municipalities to diversify their funding sources.

"Regulation of development charges is being reformed, with the potential to increase local government capital spending by as much as R20bn per year," the budget review said.

 

Click here to access the full article, as sourced from Fin24 on 20 February 2019