Moody’s finds positives in update on SA
The ratings agency commends successes but sounds a warning political infighting is creating uncertainty
Moody’s Investors Service has given SA credit for the resilience of its institutions and for making "measured" progress on structural reforms. But the credit ratings agency has again sounded a warning that political infighting is creating uncertainty and impeding growth-enhancing reforms. The ratings agency also warns that SA’s 48.6% youth unemployment rate is a key social challenge, one that reduces the country’s economic growth potential. In its latest quarterly update, Moody’s cites as positives the dropping of charges against Finance Minister Pravin Gordhan in October and the release of the public protector’s report on state capture, as well as the fact that fiscal consolidation remains on track despite spending pressures.
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