Though the recent medium-term budget policy statement (MTBPS) recognised the scale of SA’s economic and fiscal difficulties, the government failed to outline how and when it will implement policies to boost growth and stop the deterioration of public finances, ratings agency Moody’s Investors Services said.

As a result, it expects “the economy will remain subdued and for fiscal consolidation to be slow, sustaining the rise in government debt in the next couple of years,” the agency said in a comment, issued late on Thursday...

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