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Ratings agencies warn populist policies may follow local govt elections

The world's big ratings agencies will be taking a hard look at SA's economy later this year.

Picture: AFP.

JOHANNESBURG - Ratings agencies are warning more populist policies may follow the latest elections in South Africa, but are also optimistic that more economic growth could be on the cards.

The world's big ratings agencies will be taking a hard look at South Africa's economy later this year so what they say now, following the elections is important.

Moody's says increased political competition has the potential to boost reform and lead to new policies, which focus on growth.

It says there could also be a shift towards policies that focus on service delivery.

But Fitch warns that the African National Congress (ANC) may steer towards populist policies to try and win back support and says political infighting could also suck the energy out of policy-making.

South Africa's economic growth is now expected to slow down to zero percent as it faces the prospect of being downgraded to junk status.

But government has been able to avoid this so far.

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