S.AFRICAN MUNICIPALITIES UNDERSPEND ON BUDGET

.This is according to South Africa’s National Treasury, which reported local government’s revenue and expenditure for the fourth quarter of the 2013-2014 financial year on Friday.

“This translates into a net under spending of 33.8 billion rand of adjusted budgets for municipalities. The under spending is 1.4 billion rand lower than that of 2012-2013 when municipalities under spent by 35.2 billion rand or 12.2 per cent of their budgets,” Treasury said.

http://www.cnbcafrica.com/news/southern-africa/2014/08/29/south-africa-municipalities-2014/

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