The government of South Africa is stepping up measures to revive the economy. In an address on the country’s finances today, President Cyril Ramaphosa (pictured) announced plans to reduce ministerial spending as to save R261 billion ($16.8 billion) over the next three years. Mr. Ramaphosa says the rate at which the public service wage bill increases will also be cut.

“I have decided that there will be no increase in the salaries of senior public office bearers this year,” he said, explaining that priority will now be given to key growth driving sectors and essential public services.

South Africa has been drowning recently with a very sluggish economy, high unemployment rate and the ongoing electricity crisis which has already swallowed up billions of dollars without being addressed. “This position is precarious and unsustainable. We need to make significant changes and we need to make them now,” the Head of state said.

Authorities said spending to reduce public debt burden has risen sharply compared to government revenues in recent years.

Moutiou Adjibi Nourou