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Zuma gets a pay increase
Zuma gets a pay increase

Zuma gets a pay increase

ECONOMIC NEWS

BusinessTech.co.za - Mar 11th 2016, 09:22

The National Assembly has approved a 5% salary hike for President Jacob Zuma, taking his annual salary to R2.87 million per year. 

Ahead of the national budget speech in February, Zuma approved an increase in salaries for political office bearers nationally – by 4.4% for 2015/16.

This was below inflation and the recommended rate by the Independent Commission for the Remuneration of Public Office Bearers, in line with the current economic climate, the presidency said.

The Commission recommended that the salaries of all public office bearers be increased by between 5% and 8% for the various offices in the 2015/16 financial year.

The salary of the President is determined by Parliament, though the Commission recommended a 5% increase for Zuma in November 2015.

President Zuma is one of the best-paid presidents in the world, with earnings on par with many leaders from developed and economically thriving countries.

During the sitting of National Assembly, the EFF put in a motion that Zuma’s salary be cancelled indefinitely, following his admission that he benefited unduly from security upgrades at his Nkandla homestead.

“He does not deserve a salary,” the EFF said, to cheers from opposition parties.

The ANC objected to the motion, and succeeded in squashing it – with 172 members against the EFF’s motion, 81 for, and 4 abstaining.From 2016 Copyright, BusinessTech. All right reserved. 

Read more about: south africa | jacob zuma | eff | economy

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