According to a survey, 72% of South Africans are optimistic about their finances and expect salary increases in the next 12 months. Employers in South Africa are planning to increase pay budgets by 6.1% in 2024.
South Africa ns are extremely optimistic about their finances, with many expecting salary increases this year.
A 6.1% increase comes in higher than expected annual inflation, which is anticipated to be between 4.5% and 4.7% in 2024. Of the 35% with struggles, 34% plan to pay a partial amount that they can afford, 33% plan to take on partial work and 30% plan to use money from savings to meet their financial responsibilities.
In total, 37% of respondents who said that the South African economy is in a recession aim to pay down debt quicker . 51% also said that they are cutting back on discretionary spending to do so
South Africa Finances Salary Increases Survey Optimism Pay Budgets
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