Johannesburg – Gauteng Finance and Economic Development MEC Lebogang Maile has dismissed claims that the province is nearing bankruptcy, despite financial strain from the R20.1 billion e-toll debt.
Speaking at a media briefing on Tuesday, Maile addressed criticism of the province’s financial management, emphasising that despite operating under fiscal strain, Gauteng is not on the verge of bankruptcy.
He highlighted the province’s R169 billion budget and countered claims that Gauteng’s large budget has yielded little visible impact.
Maile said that as of the end of November 2024, the province had spent R115.238 billion, which accounts for 68% of the adjusted budget of R169.213 billion.
Gauteng Finance MEC Lebogang Maile has rubbished claims that the provincial government could be bankrupt by June this year. He says Gauteng’s R169bn budget is enough to sustain the province. #eNCA #DStv403 #QuestionThinkAct pic.twitter.com/1DhedupXst
— eNCA (@eNCA) January 7, 2025
He acknowledged the significant impact of the debt on the province’s limited resources, noting that budget adjustments were necessary to meet repayment obligations.
However, he assured that essential services and financial stability would not be compromised.
“While these assertions are not new, and have previously been refuted, there is a need to provide a comprehensive response in the public interest.
“The matter of possible bankruptcy, even in the current financial year, should be refuted. Gauteng’s budget of R169 billion is substantial, but its impact depends on how wisely it is spent,” he said.
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