S&P Global Ratings says SA’s credit rating and outlook has not been immediately affected by political developments surrounding the resignation of Jacob Zuma. The credit-ratings agency’s last report in November flagged SA’s fiscal and economic challenges. "The new leadership could bring confidence and faster implementation of key reforms already undertaken," S&P said in a statement on Thursday. However, it added that President Cyril Ramaphosa and his administration would need time to implement measures to improve economic growth and stabilise public finances, in the light of SA’s structural and institutional challenges. SA’s economic growth has remained low and is expected to have been less than 1% in 2017. The figures will be released in March. "We think the government will attempt to introduce offsetting measures in an effort to improve budgetary outcomes, but these may not be sufficient to stabilise public finances in the near term," S&P said. S&P added that based on the political...
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