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Moody's predicts minimal growth after SA slides into recession

The ratings agency says the country's weaker-than-expected economic performance will exacerbate fiscal and monetary challenges.

Moody's Ratings agency. Picture: Facebook.

JOHANNESBURG - Moody's says that the economy's slide into recession has increased pressure to decide on certain policies and that the reserve bank will have to consider how to contain inflation.

The ratings agency says the country's weaker-than-expected economic performance will exacerbate fiscal and monetary challenges.

Moody's projects real economic growth between 0.7% and 1% this year and about 1.5% in 2019.

It says that it had already anticipated that government would miss its fiscal targets and that now the task for Treasury will be more difficult.