South Africa: Public sector wage bill set to increase further
The South African government has been struggling to rein in the public sector wage bill in the past. This seems to be the case again this year as National Treasury already extended an offer that will exceed its own budgeted figure for FY 2021/22. We examine what impact this offer will have on the fiscus.
What you will learn about:
- Wage bill increases in the past have exceeded inflation comfortably
- Labour unions came out swinging with double-digit demands
- Fiscal deficit to widen with current offer on the table
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