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Budgeting For COLA is NOT Possible-Minister of Finance Neil Rijkenberg
The 0.0% offer will continue with tormenting civil servants. This is after Finance Minister Neil Rijkenberg revealed that it is not possible to budget for the Cost of Living adjustment during the current financial year.
The Finance Minister was speaking today in parliament during the 2019 budget speech. The Minister said this is because of the country’s growing wage bill which is also placing an insurmountable pressure on the budget. For that reason, the minister said that government has been under immense strain to pay salaries due to the cash flow crisis.
He also announced that the wage and pensions, expenditure will increase from E8.2 billion in 2018/19 to E8.5 billion in 2019/20 despite the current hiring freeze. He then appeal to the Public Service Association and its members to appreciate the current financial strain and join government in actively addressing the country’s economic crises.