Eskom bailout is ‘credit negative’ for SA, says Moody’s

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‘s fiscal deficit to widen to 5.7% of GDP in 2019 and 5.6% in 2020, up from current projections of 5.2% and 5.0% respectively, although this would be in a worst-case scenario where none of the debt is compensated for. “The government may try to absorb part of this extra cost with new revenue or expenditure measures in the next mid-year budget exercise, the Medium-Term Budget Policy Statement , expected on 23 October, but we think its room to maneuver is extremely constrained”.recently suggested“Most analysts have also continually reminded investors that the downgrade is priced in. This is not something that will shock the market if everybody knows it’s coming,” he wrote.

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