Some economists predict that Finance Minister Enoch Godongwana is likely to push for greater fiscal discipline and controlled spending when he delivers theHeading into the elections, the African National Congress ’s potential loss of its majority raised concerns about possible populist measures that could disrupt budget stability.
However, with renewed optimism sparked by the Government of National Unity , some economists are not anticipating any major policy surprises. Meanwhile, Nedbank Economist Isaac Matshego expressed concerns about the public sector wage bill remaining high. “In the February budget for the next three years, National Treasury worked on the public sector wage bill increasing by an average of 3.2%, which quite honestly would be unrealistic unless employee numbers are reduced,” adds Matshego.