Economists back budget plans to stave off ratings action
Delivering on fiscal consolidation, including wage savings, could buy SA more time with agencies
24 February 2021 - 19:34
The firm commitment to fiscal consolidation in finance minister Tito Mboweni’s 2021 budget delivered on Wednesday, may just be enough to fend off any further credit ratings downgrades, economists say.
SA’s weak fiscal metrics, particularly runaway debt levels, and the slow pace of economic reforms, against persistently low growth, have routinely been cited by ratings agencies as reasons for its poor credit profile...
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