South Africa Unveils Measures To Rein In Public Spending
February 26, 2020
South Africa’s finance minister on Wednesday announced plans to tighten government spending, including a major cut to public sector wages, in an effort to avoid a looming fianncial crunch.
In his annual budget speech to parliament, Finance Minister Tito Mboweni vowed to take the axe to the civil service wage bill, which now gobbles up more than a third of expenditure after a nearly 40-percent rise in numbers over a dozen years.
“We will propose a new law to stop excessive salaries in these public entities,” Mboweni said.