By Enyichukwu Enemanna
South Africa President, Cyril Ramaphosa has approved a 3% salary increase for all public office holders, a statement from the presidency says.
The Independent Commission for the Remuneration for Public Office Bearers had recently recommended that salaries of all public office holders, including that of judges, magistrates and traditional leaders, be increased by 3.8% for the 2022/2023 financial year, the statement dated July 1 said further.
“Having considered the commission’s recommendations and serious economic challenges facing the country, the president has decided that the salaries of all public office bearers be increased by 3%,” it said.
Ramaphosa has submitted the increment notice to parliament for approval.
South Africa recorded a primary budget deficit in the year through March, missing National Treasury’s target for a surplus, after revenue collections fell short of estimates due to higher-than-anticipated value-added tax refunds.
Ratings companies have flagged the country’s wage bill as an ongoing risk to the economy.
The country’s central bank has been implementing a restrictive policy stance in an effort to curb inflation that’s now at 6.3%.
Gross domestic product in Africa’s most developed economy expanded by 0.4% in the three months through March, after contracting a revised 1.1% in the previous quarter
