Joburg to spend more on public transport
Joburg residents can expect increased spending on public transport in the next financial year.
|||Joburg residents can expect increased spending on public transport in the next financial year.
On Tuesday, the City of Joburg’s member of the mayoral committee for finance, Geoffrey Makhubo, was expected to announce in his 2016/17 budget speech that more financial resources are to be channelled towards the expansion of the Rea Vaya bus rapid transit system and other public transport infrastructure.
This follows the successful staging of the EcoMobility World Festival in Sandton in October last year in a bid to decongest the city’s streets.
Other announcements expected include a reduction in greenhouse gas emissions, the improvement of productivity and a boost in economic growth.
Housing, particularly social housing, and the electrification of informal settlements are to receive top priority, as will empowerment projects such as Jozi@Work, Vulindlel’ eJozi, Digital Ambassadors and the green and blue economies.
With the budget speech coming at a time of economic turmoil in the country, when unemployment is rising and the cost of living is going through the roof, Makhubo will be expected to balance the needs of the city with the plight of many of its ratepayers, some of whom are already downscaling.
The city is also expected to intensify its efforts to cushion the lives of its vulnerable residents, including the elderly, orphans, ex-combatants and those living on the streets. These will, of course, come with increased social spending.
The 2016-2017 budget will offer another layer of financial stability on which the future of the Joburg will be built.
A little more than a week ago, Moody’s Investors Service raised both the city’s national and global scale ratings, saying it had noted the metro’s financial prudence and consistency in managing its finances.
Five months earlier, the city was given a major boost when Fitch upgraded its credit rating by a notch - from AA- to AA - in what mayor Parks Tau described as a “credible endorsement of Joburgâ’s financial stability”.
The Star
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