NATIONAL NEWS - Finance Minister Pravin Gordhan says the country has been able to avert a ratings downgrade despite what he’s described as “political noise” and the country will be able to do it again.
Gordhan has given an overview of South Africa’s agenda ahead of the World Economic Forum in January in Davos, Switzerland.
Last week, ratings agency Fitch changed the country’s status from stable to negative but joined Moody’s in keeping their ratings unchanged, which Gordhan says shows the resilience of the economy.
The Finance Minister says this year’s global events have awakened leaders to the fact that the socio-democratic policies they have been implementing are possibly receiving a push-back.
“You must just tell me which country has no political uncertainty because that is the new normal in the world. The question is how do we deal with it?”
Economic Development Minister Ebrahim Patel says their interaction with ratings agencies has given clear plans.
