Councils' budgets 'trimmed' to beat recession

Jobs for companies relying on tenders from the local authorities will be very limited in the new financial year after the development budget was tremendously reduced by over 50 percent, from P2 billion to  P1 billion for the financial year, that begins  next month.This is despite the fact that almost a month ago the Minister of Finance announced P10 billion for development projects, a budget he said is very ambitious and will go toward cushioning the economy from the on going recession.

However after the recent revelation, fears have surfaced that many companies depending on doing jobs for the local authorities will soon suffer, and possibly retrench staff.