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WATCH: Can SA get out of the ratings naughty corner?
President Jacob Zuma is calling for urgent measures to boost the economy and has tasked Finance Minister Malusi Gigaba and the presidential fiscal committee with finalising proposals for expenditure cuts of R25bn and revenue-boosting measures totalling R15bn. Zuma will then meet the team to receive a progress report on what has been decided in this regard. The move comes after S&P joined Fitch in rating SA’s rand-denominated bonds as junk. Moody’s has placed SA on review until the budget announcement in February for a possible downgrade. Ravi Bhathi from S&P talks to Business Day TV about how SA could convince ratings agencies that it is on the right path. OR LISTEN TO THE AUDIO:
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