and says it is working to improve the efficiency of spending and remains committed to returning public finances to a sustainable path.
In its latest report, Fitch says South Africa is constrained by high and still rising government debt, low growth and high inequality that will continue to complicate fiscal consolidation. But there are silver linings. Fitch says the rating is supported by a favourable debt structure with long maturities and denominated mostly in local currency as well as a credible monetary policy framework.
“The general sort of outlook for the economy is realistic from this report and what I’ve taken away from it is it’s not all doom and gloom there’s lot of potential if we look at different sectors.” “As a developing country that’s, you know, been hit by a previous shock less than 24 months ago 1.1 percent, if we look at it, relative to the global economy is not particularly bad. We’ve always kind of seen if we compare South Africa’s growth to global growth we’re always about a percent and half off, so one percent if we look at it that way is really not bad.”
Our debt is way below that of the US as a percentage of the GDP... Ours it just below 70% US is just over 120%, almost twice ours.... This fiscal stability needs to be standardised...
Hhayi ke ayikho ke leyo.