has cited the widening budget deficit and increased expenditure as its reason for revising South Africa’s outlook from stable to negative. The ratings agency on Friday affirmed the country’s rating at BB Positive.
growth were all core to Fitch’s decision to downgrade its outlook on South Africa to negative from stable.Lesetja Kganyago Fitch believes South Africa’s GDP growth potential is in question based on its recent downward revision. It has also cited high levels of inequality as a hindrance to government’s implementation of policy to address such challenges.
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