MASERU, March 15 -- The 2019/2020 fiscal year budget has taken the nation by storm with several surprising points to many while being read by the Finance Minister Dr Moeketsi Majoro on Tuesday.
"In this budget I am not proposing any adjustment in salaries except for ministers who shall take a pay cut of 5 percent," said the minister raising one of the most controversial points of the budget speech.
This, he attributed to government's intentions of cutting the wage bill. Against revenues and grants of M15.6, Majoro indicated that spending increased to M18.0 billion in the previou financial year resulting in a fiscal deficit of M2.4 billion. Half of this already high spending bill he said is accounted for by wages and salaries.
"The bill f...