Johannesburg - The City of Johannesburg's R59 billion budget for the 2018\19 financial year has finally been passed, the city said on Monday.

The comes after mayor Herman Mashaba agreed to a last minute tariff increase adjustment following the Economic Freedom Fighters' (EFF) demands for lower water and electricity tariff hikes for the city's residents.

Mashaba had presented his R59 billion budget for the 2018\19 financial year at council last week, but its tariffs increases were largely rejected by the ANC and EFF.

The budget had proposed a 7.37% increase for electricity tariff and 14.2% for the water tariffs. The meeting ended without the budget being adopted.

The city in a statement confirmed that council had passed the multi-party coalition government’s operational and capital budgets and Integrated Development Plan (IDP) for the 2018/19 financial year in full compliance with the Municipal Finance Management Act.