Business blames unions for weak economy

Business Leadership SA boss says labour's inability to compromise on salaries at Eskom and on its unbundling has weighed on growthBLSA CEO Bonang Mohale says workers' above-inflation salary increases at Eskom in 2018 are partly to blame for SA's low growth. Picture: SUNDAY TIMES

The business organisation, which represents more than 70 of the country’s biggest companies, said labour’s inability to compromise on salaries at Eskom and the unbundling of the embattled power utility has weighed on the economy. While the Treasury expects growth of 1.5% in 2019 , the Reserve Bank, which expects 1.3%, said in April that if power cuts persist throughout 2019, it could shave as much as 1.1 percentage points off growth for the year and more than 100,000 job losses.

“The economy is weak because of the supply-side of the economy that doesn’t allow people to participate.”

Absurd!

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eskom: The abyss just gets deeper | Business | M&G🔒 Finance Minister Tito Mboweni has to balance the demands of Eskom, which is struggling to keep the lights on, with the need to stabilise the nation’s debt. It doesn't make any sense. Privatisation of ESKOM is not an option
Source: mailandguardian - 🏆 2. / 92 Read more »