Bloomberg
3 minute read
15 Nov 2021
5:00 am

SA aims at higher ratings

Bloomberg

Finance minister sees ratings companies upgrading outlook next year.

Finance Minister Enoch Godongwana tabling his maiden Medium-Term Budget Policy Statement (MTBPS) in the National Assembly. Picture: @TreasuryRSA/Twitter

SA’s renewed commitment to deliver structural reforms will lead to more favourable assessments of its junk-rated debt and help regain the confidence of the ruling party’s supporters, Finance Minister Enoch Godongwana said. The former labour unionist and key ally of President Cyril Ramaphosa, delivered his first mid-term budget last week. In it, he pledged to accelerate structural reforms to bolster economic growth and address the deterioration in public finances. The government is targeting “concrete” reform success by the time of Ramaphosa’s next state-of-the-nation address, Godongwana said. “We mean business,” Godongwana said. “My challenge at the moment is to push for...