Streaming issues? Report here
kenny-show-picjpg kenny-show-picjpg
702 Music with Kenny Maistry
10:00 - 14:00
volume_up
volume_mute

Up Next: 702 Music with Nonn Botha
See full line-up
702 Music with Kenny Maistry
10:00 - 14:00

Home
arrow_forward

All eyes on South Africa ahead of Moody's and S&P credit rating review

25 November 2016 8:15 AM
The economy has been under pressure over the years with stagnant growth and growing unemployment.

All eyes are on South Africa ahead of the much-anticipated decision on a credit rating from international rating agencies Moody's and Standard & Poor's.

The economy has been marred by stagnant growth exacerbated by growing unemployment, an increasing public service wage bill and other factors.

702's Stephen Grootes spoke to chief economist at Econometrix, Dr Azar Jammine, about what lies ahead for the economy.

Currently, South Africa is two notches ahead of reaching sub-investment status (popularly known as junk status).

It is on a knife-edge and my backing is more in favour that Moody's will downgrade us.

Dr Azar Jammine, Chief Economist at Econometrix

He emphasised the importance of good governence in state-owned enterprises and managing the fiscus as those would be factors that would contribute towards a review.

Even if they [Moody's] do downgrade us, we'll still be regarded as investment grade. But it would still carry an important message.

Dr Azar Jammine, Chief Economist at Econometrix

25 November 2016 8:15 AM