Finance minister optimistic ahead of Fitch announcement
Pravin Gordhan believes govt has done enough to ensure some ‘breathing space’ over the next 6 months.
JOHANNESBURG - Finance Minister Pravin Gordhan is optimistic about Fitch's credit rating, saying he believes government has done enough work to ensure some "breathing space" over the next six months.
The ratings agency is expected to publish its review later today.
Gordhan is addressing the Gauteng Economic Indaba in Woodmead about issues of economic growth.
He says the country needs to reignite economic activity, but he has emphasised that government can't do it alone.
The minister says investors are tired of hearing about "plans".
#EconGP Gordhan: good environment for business, sometimes more pessimistic than we need to be -best business infrastructure on continent GN— EWN Reporter (@ewnreporter) June 8, 2016
He appeared to be optimistic, however, about today's rating announcement.
"While you'll be sitting here and having your dinner tonight, you're either going to be paying for a glass of water, I don't know if the premier is paying for alcohol, but you can buy your own bottle of cheap champagne."
He said, "Fitch will be making the announcement later today, so you can cross your fingers because we certainly think we've done the right kind of work."
Gordhan says the country needs to create an economy that benefits its social partners.
#EconGP Gordhan: a dangerous word in SA being "captured" in investment ... Audience laughs. "Don't need to be in anyone's pocket" GN— EWN Reporter (@ewnreporter) June 8, 2016