Teneo-Europe-Report

February 26, 2020

SOUTH AFRICA: Mboweni promises wage bill cuts, but can he deliver?

BY Anne Frühauf

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( 5 mins) ● The key concession to credit ratings agencies in Finance Minister Tito Mboweni’s 26 February budget presentation was his promise to reduce South Africa’s wage bill by ZAR 160.2bn over three years. ● However, it is not clear if the government can deliver and if the plan can buy South Africa more time to avoid […]

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