S&P Global Ratings (S&P) will be engaging with Treasury and other stakeholders over the next month ahead of the credit rating it will issue on December 2 to get a grip on the structural reforms that are planned, the credit ratings MD for southern Africa, Konrad Reuss, said on Friday. The lack of mention of structural reforms in the medium-term budget policy statement was "disappointing", Reuss said in an address at the Accelerate Cape Town annual general meeting. He said, however, that Treasury officials had informed him that such specific measures were not announced at this time but only in the main budget in February. Structural reforms and SA’s economic growth rate were among the key variables S&P would use in its analysis to determine whether the country should be downgraded from its BBB-on a negative outlook to noninvestment grade. Other key elements were the governance of state-owned enterprises and policy certainty in the mining sector. "SA is not going to go back to a decent...
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