Ratings agencies not convinced
RATINGS agencies have poured cold water on the government’s ability to rein in spending, warning of further downgrades if the government’s finances continued to deteriorate.
Moody’s yesterday said that Finance Minister Tito Mboweni’s plan to contain growth in public sector salaries at 1.8 percent was likely to be met with resistance from the unions.
“The government expects further cuts on the wage bill beyond
