May 8, 2018 / 8:36 AM / 3 months ago

Wages stalemate puts South Africa's spending cuts plan at risk -finance minister

CAPE TOWN, May 8 (Reuters) - 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. (Reporting by Wendell Roelf Writing by Mfuneko Toyana; editing by John Stonestreet)

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