Record capital expenditure by NMB municipality

2017-08-09 06:02

THE new coalition government in Nelson Mandela Bay has recorded capital expenditure of 93% in the 2016/17 financial year – the highest spend since before the 2010 Soccer World Cup.

Paired with a collection rate of 93.7%, the Nelson Mandela Bay Municipality’s (NMBM) financial position is now the most stable it has been in almost a decade.

“Infrastructure-led growth is crucial to ensure that Nelson Mandela Bay is a well-run city. By spending our capital budget, the municipality is working to advance communities and drive economic growth through development,” the municipality said in a statement.

The final quarter of the 2016/17 financial year saw kilometres of road tarred, pavements repaired, painting of new road markings, the rehabilitation of parks and clean-ups of public open spaces.

“This sets an important benchmark for subsequent years, as this government works to ensure that the municipality keeps moving forward, spending money on our people through basic service delivery and economic growth,” the statement read.

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