Budget shows ‘severe’ slide in public finances, says Fitch
Fiscal metrics worsen while efforts to curb spending ‘rely heavily on hoped-for moderation in public sector wages, which might not materialise’, notes the credit ratings agency
26 February 2020 - 23:58
The budget delivered by finance minister Tito Mboweni highlights the “severe deterioration” of public finances and the long-term policy challenge of stabilising government debt, credit ratings agency Fitch said in a statement late on Wednesday evening.
“Fiscal metrics worsened moderately compared with the medium-term budget policy statement (MTPBS) in October, despite the announcement of significant expenditure cuts,” Fitch said...
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