Johannesburg Borrowed 5 Billion Rand For Infrastructure
The City of Johannesburg borrowed 5 billion rand from financial institutions over the past year to fund infrastructure projects. The city is currently spending over 1 billion rand more than it collects in income. Experts warned that this debt cycle is unsustainable.
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Developing
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Sources · 7 independent
SAfm
“they focusing on relying heavily on loans to survive and borrowed five billion rand from financial institutions in the past year to fund infrastructure projects, the city spending just over a billion rand more than it collects in income.”
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