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Assessing and promoting civil and minority rights in South Africa.

[Source: Moneyweb by Olivia Kumwenda-Mtambo and Alexander Winning.]

Ratings agency Moody’s said on Monday the budget statement presented by South African finance minister Malusi Gigaba last week was credit negative, while a central bank official raised concerns over economic growth.

Gigaba shocked markets on October 25 by flagging sharply weaker growth expectations, wider deficits and rising government debt.

The comments by Moody’s, which along with S&P Global is expected to review South Africa’s credit ratings next month, come after Fitch criticised Gigaba’s budget speech for shifting away from fiscal consolidation efforts.

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South Africa at a Glance
57 700 000 (mid 2018 estimate)
5.1% y/y in October 2018 (CPI) & +6.9 y/y in October 2018 (PPI)
2.2% q/q (3rd quarter of 2018)
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