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Fitch: SA’s budget partly reverses fiscal deterioration

There has been a generally positive reaction from agencies to the budget this week.

Picture: AFP.

JOHANNESBURG - Rating agency Fitch says South Africa’s budget partly reverses fiscal deterioration.

There has been a generally positive reaction from agencies to the budget this week.

Fitch and others have been concerned about excess expenditure.

The agency says it thinks the government is committed to its expenditure ceiling.

But it says public-sector wage negotiations, ahead of the expiry of the current three-year agreement, could put pressure on expenditure.

In 2017, rating agencies warned of further downgrades if there were no changes to government expenditure, especially with regards to state-owned enterprises (SOEs).

Finance Minister Malusi Gigaba said earlier this week that the government is looking at various ways to fund SOEs including selling the government-owned property.

WATCH: The 2018 Budget in 60 seconds

(Edited by Zamangwane Shange)