S&P worries about SA’s spending habit

S&P worries about SA’s spending habit

2020-10-20 07:02:00 AM

S&P worries about SA’s spending habit

SA is not alone as many countries grapple with how to stimulate their economies while containing their fiscal trajectories, says ratings agency

BL PREMIUM20 October 2020 - 05:10Lynley DonnellyThe government faces the tough task of balancing its economic recovery efforts with its plans to control spending in its upcoming medium-term budget policy statement (MTBPS), ratings agency S&P Global Ratings’ primary credit analyst for SA says.

"It seems to be more of a spending plan than a reform plan," S&P’s Ravi Bhatia told Business Day on Monday when reacting to the economic reconstruction and recovery plan announced by President Cyril Ramaphosa last week.BPremiumThis article is reserved for our subscribers.

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This is because SA feels that it can spend it's way out of the problem which in this instance is not the case. Like most of us for the past 20 years. How long will it take them to start worrying about the stealing and middleman tender habit? What took so long?! S&P is pushing for privatization agenda to transfer wealth to apartheid beneficiaries

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