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Jonas: SA's fiscal policy a concern for rating agencies

Credit rating agencies have warned of downgrades by year end over expenditure, the under performing economy, and political turmoil.

FILE: Deputy Finance Minister Mcebisi Jonas. Picture: Screengrab

JOHANNESBURG – Deputy Finance Minister Mcebisi Jonas says credit rating agencies are concerned about South Africa’s ability to maintain fiscal targets, but Treasury has convinced them that it can maintain caps on spending.

“The second area of concern is that growth is not coming through. I think you appreciate that there’s a correlation between fiscal policy and growth.”

Rating agencies, which are due to review South Africa before the end of the year, have warned of downgrades by year end over expenditure, the under performing economy, and political turmoil.

(Edited by Masechaba Sefularo)