A ratings downgrade from Moody’s is very likely in the next month or so, given an average economists’ forecast of a budget deficit of more than 6% of GDP in 2020/2021 and 6% in 2021/2022, according to Reuters.

Meanwhile, with growth forecast below 1% this financial year, and about the same for the year after, the government’s debt to GDP is set to exceed 70%. Already, at just over 60%, SA has one of the highest debt-to-GDP ratios in the emerging-market universe...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now