Government blows its budget on public sector wage increases

The vaunted plan to improve South Africa’s fiscal position took a blow on Friday when Treasury announced that the agreed upon 6% to 7% increases for public sector workers were higher than the 4% envisioned in the mini-budget. The budget shortfall will amount to R30.2 billion over the next three years.

This article is exclusive to Biznews Premium. Members please login here. Not yet subscribed? Taste before you eat by signing up here for free 30 day trial (card details required; WSJ access only available to paying members)