SA’s weak growth a stumbling block to reducing debt

South Africa’s poor economic performance is the biggest impediment to stabilising its debt situation, said ratings agency Fitch in a company note. Fitch’s comments came after Finance Minister Pravin Gordhan delivered South Africa’s 20th medium-term budget policy statement in Parliament on Wednesday, announcing reduced expenditure and new revenue raising measures[…]

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All eyes on GDP and ratings agency Fitch

Economists expect a negative GDP reading for the first quarter of 2016, while ratings agency Fitch should follow Moody’s and Standard Poor’s and not downgrade SA to junk status. Many economists expect a negative gross domestic product (GDP) reading when Statistics SA announces the figures for the first quarter of[…]

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