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Vol 61 No 5

Published 5th March 2020

South Africa

Tito takes on the workers

As the budget aims to cut public sector pay by US$10 billion and sell state assets, trade unions push back on jobs and wages

Threatening huge cuts in public spending but no serious tax hikes, Finance Minister Tito Mboweni's budget of 13 February will unleash further political drama and perhaps trigger a national strike. If nothing else, it will show the markets that President Cyril Ramaphosa and his close allies, at least, are serious about cutting the budget deficit and managing the ballooning public debt.

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