South Africa’s efforts to rein in fiscal discipline may be bold but not quite enough to prevent a ratings downgrade later this year. Ratings agencies, Moody's Fitch and S&P, who have the country on a negative outlook, say there's still a 30% chance South Africa could lose its credit rating. Low growth, political uncertainty and the burden of parastatals on the fiscus remain major concerns for the ratings agencies. Finance Minister Pravin Gordhan this week warned of a widening budget deficit and higher taxes as a result of lower growth and falling revenue. He committed to cut public spending. Reviews from all three of the ratings agencies are expected in December.
- Category
- South Africa
Be the first to comment
Up Next
Autoplay
-
05:08
Fitch Now Downgrades South Africa Credit Rating To Junk Status
-
01:28
South Africa Analysts Fear A Downgrade To Junk Status, Despite Slight Growth
-
10:42
Are African credit rating agencies losing momentum?
-
02:55
South Africa's Rating Remains The Same, But Risk Of Downgrade Increases
-
01:09
Aid Agencies Urge South Sudan Government To Protect Aid Workers Against Violence
-
03:23
South Africa's Unstable Economy Could Face Further Downgrade
-
00:47
South Sudan Denies Reports Of Famine, Slams UN Agencies
-
00:41
Rating Agency Downgrades South Africa To Junk Status
-
01:55
Horn of Africa drought: Aid agencies warn of humanitarian crisis
-
03:31
Standard & Poor's To Announce South Africa's Credit Rating
-
59:15
The Chinese are Coming
-
01:55
Sudan: Miners face harsh conditions as they search for gold in desert
-
03:11
Mugabe: Zanu PF Says Heroes Acre Only For Party Supporters
-
01:30
Coronavirus: South Sudan reports first case
-
01:12
Polls open in Zambia elections, President Edgar Lungu casts vote
