Moody’s expects SA confidence to rise after elections

SA is expected to see surge in confidence following the elections in May, as the current administration under President Cyril Ramaphosa is continuing to gradually move forward with the implementation of its reform agenda, Moody’s Investors Service said.

Moody’s expects growth to accelerate to 1.3% in 2019, and 1.5% in 2020. This is in line with the Reserve Bank’s forecast for 2019 and slightly below the Treasury forecast of 1.5%. “Ramaphosa has managed to avoid damaging political, social and economic confrontation to manoeuvre the sociopolitical landscape and push forward with key steps against state capture,” she said.

The Moody's report lays out factors that could change SA’s rating. SA could see an upgrade in its credit rating with the successful implementation of structural reform to raise potential growth and stabilise and eventually reduce the government's debt burden through SOE reform, Villa said.

Source: Loan Digest (loandigest.net)

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