MOODY’s has trimmed its forecast of SA’s economic growth rate to 0.2% this year and 1.1% next year, setting the stage for an intense period of interactions with investors and ratings agencies in coming weeks, as government and business step up efforts to avert a downgrade of SA’s credit rating.This comes after Moody’s this week put the five "most sensitive" state-owned entities (SOEs) on review for a downgrade, and cut its forecast for SA’s economic growth rate to 0.2% — but made it clear that measures to reform labour markets and SOEs could stabilise SA’s ratings outlook.Moody’s is in SA next week for its annual conference, and the Treasury has confirmed that the deputy president, the minister of finance and other stakeholders will be meeting with the ratings agency, "to reassure the rating agency that government has made progress on governance and financial matters of SOEs", a Treasury spokeswoman said.READ THIS: Moody’s decision shows Jacob Zuma is a disaster, says Sipho PityanaM...
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