South Africa State Wage Deal to Cost Extra 66 Billion Rand
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A wage deal agreed with nurses, teachers and other civil servants in South Africa will cost the government an additional 66 billion rand ($5.6 billion), Acting Public Service and Administration Minister Nkosinathi Mthethwa said.
The government will draw on funds from its contingency reserves to help pay for the salary increase that wasn’t budgeted for in its fiscal plan, Mthethwa said in a phone interview on Friday. The department will meet with the National Treasury to discuss financing options, he said.