South Africa plans cost-cutting measures as revenue falls

South Africa's National Treasury plans to implement cost-cutting measures, including a hiring freeze and halting new procurement contracts for infrastructure projects, to address a revenue shortfall caused by weak economic performance.

reuters.com

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9/12/2023

Ramaphosa Pushes Spending Cuts to Revive South Africa's Struggling Economy

President Cyril Ramaphosa is proceeding with spending cuts in an effort to revive South Africa's struggling economy, which includes trimming the public sector wage bill over the next nine months despite opposition from public sector unions.