Actual capital expenditure by metropolitan areas on infrastructure related items, such as housing, roads, water and energy fell by 5 percent y-y in September 2021, despite an 11 percent increase in budgetary allocations for the 2021/22 period to R24.8bn. Metro’s managed to spend only 75 percent of their “construction related capital expenditure budgets” in the 2020/21 period and was off to a slow start in the 1st quarter of the new financial year. More details will be provided for each of the Metro’s in our full review due for release shortly.
