Will South Africa’s upcoming mini budget please Moody’s?

SOUTH AFRICA - Report 22 Oct 2018 by Iraj Abedian

Moody’s rating agency, the only one of the main three that still has South Africa’s credit under investment grading (Baa3 with a stable outlook), indicated a few weeks ago that it is not likely to downgrade the country during its next review. Despite this somewhat assuring statement, Moody’s still issued a warning regarding government’s financial affairs. The agency cautioned that government needs to contain spending and solve the state-owned entities (SOEs) issues.

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