Has Mboweni managed to still Moody’s knife?
The budget has done the right things argue analysts, but SA's deficit and debt trajectory will still weigh on its credit rating
26 February 2020 - 18:24
The big question after finance minister Tito Mboweni’s budget on Wednesday will be how ratings agency Moody’s Investors Services views the limited fiscal consolidation outlined in the numbers, despite the government’s efforts to tackle its wage bill and boost growth.
Though the state is proposing R160bn in wage cuts — as part of overall spending reductions of 260bn — the budget deficit and debt trajectory have continued to rise, not least because economic growth has continued to disappoint...
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