Reserve Bank data underscores improved fiscal picture
Better fiscal deficit and debt-to-GDP ratios could ease ratings pressure, economist says
Newly appointed finance minister Enoch Godongwana looks set to present a markedly rosier medium-term budget policy statement in early November, data from the SA Reserve Bank confirmed on Tuesday.
According to the Bank’s latest quarterly bulletin, the recent overhaul of SA’s GDP numbers, which showed that the economy was 11% larger than previously thought, will reduce closely watched economic aggregates such as the fiscal deficit and debt-to-GDP ratios by about a tenth. This may help SA stave off any further negative ratings actions, according to a leading economist...