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Standard and Poor's issues another warning for SA’s economy

Ratings agencies are watching closely for any missteps that could see SA being downgraded to junk status.

Sandton, the financial hub of South Africa. Picture: Aki Anastasiou/EWN.

CAPE TOWN - Ratings agency Standard and Poor's has issued another warning over South Africa's economic prospects.

This week's the agency's sub-Saharan Africa Rating Trends for 2016 report indicated South Africa is headed for a tough year.

Last month, Standard and Poor's warned e xtremely low economic growth and other concerning factors could lead to a downgrade.

Ratings agencies are watching South Africa closely for any political or economic missteps, which could see the country being downgraded to junk status.

Warning lights have again flickered with Standard and Poor's cautioning that the bailout of state-owned enterprises, along with weak growth, could see South Africa miss its fiscal targets.

The agency's report indicates this will further widen the gap between South Africa's spending and income.