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Major concerns about plans to cut wage bill and reduce deficit.
12:00 
Image: Waldo Swiegers/Bloomberg
The success of this year’s budget will depend on whether government can make true on its expenditure cuts announced on Wednesday.
South Africa is currently spending R2.1 billion a day on servicing its debt and our public service wage bill as percentage of gross domestic product (GDP) is the third highest in the world, slightly behind wealthy countries such as Denmark and Norway.
Nicky Weimar, chief economist at Nedbank, says SA still has a “horrific” budget deficit (14%) despite the better-than-expected tax collections from October onwards. ....

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