Good news for SA, from S&P
Standard & Poor’s Global says it does not see SA's economy slipping into a recession any time soon.
JOHANNESBURG - Ratings agency Standard & Poor's Global says it does not see South Africa's economy slipping into a recession any time soon but has warned that economic reforms need to be implemented to avoid a downgrade in December.
On Friday, the agency decided to keep its outlook for South Africa unchanged at BBB-minus with a negative outlook, meaning the country avoided junk status. LISTEN: What S & P's announcement means for SA.
LISTEN: What S & P's announcement means for SA.
Economist Kevin Lings says it may be optimistic to say the country is completely out of the woods when it comes to a recession.
"There has to be some risk that South Africa experiences a technical recession this year and by that we mean two quarters of negative performance. For the year as a whole, we are still optimistic we will avoid an outright recession."