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S&P anticipates improved economic conditions globally

Sluggish economic growth was highlighted last year by S&P Global as one of the reasons why the country is rated at BBB minus.

Picture: EWN.

CAPE TOWN - S&P Global says it anticipates improved economic conditions not only in South Africa but globally.

The credit ratings agency hosted the Cape Town leg of its conference earlier on Wednesday.

Its experts discussed South Africa’s outlook for 2017.

Sluggish economic growth was highlighted last year by S&P Global as one of the reasons why the country is rated at BBB minus with a negative outlook, one notch above sub-investment grade.

But the agency’s Managing Director Jean-Michel Six says 2017 could show an improvement.

“I think we’re looking at improvement in the economic growth both in developed markets, the US Europe, Japan, Australia, Canada but also in emerging markets. We’re looking at stronger rates of growth on the back of higher commodity prices.”

He adds there are risks that could curb this improvement.

“The risks are essentially on the political side; we have important elections in Europe and as you know the one that took place earlier this week in the Netherlands but there’s more to come. Of course, there are uncertainty in the fiscal outlook in the US.”

(Edited by Winnie Theletsane)

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