Finance Minister Nhlanhla Nene
Finance Minister Nhlanhla Nene

Possible downgrade if wage talks fail - Nene

By Reuters Time of article published May 8, 2018

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JOHANNESBURG - South Africa will struggle to stick to a promise to cut spending, which helped it avoid a damaging credit rating downgrade, if a stalemate over civil service wages is not resolved soon, Finance Minister Nhlanhla Nene said on Tuesday.

“There are risks to maintaining the expenditure ceiling over the medium term, which include the public service wage agreement and the financial position of several state-owned companies,” Nene told parliament during a Treasury presentation. 

-REUTERS 

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