Free Trial

Old Mutual Sees S. Africa Ratings Lift on Market-Friendly Budget

SOUTH AFRICA
  • “While South Africa is clearly not out of the woods re the fiscal situation yet, we have come a long way and we are now in a vastly improved position,” with significantly less debt-default risk compared with two years ago
  • Sees potential for Moody’s Investors Service to raise the country’s outlook to stable from negative
  • Investors will like emphasis on fiscal consolidation, as well as earlier-than-anticipated stabilization in debt ratio, with the debt to GDP ratio now projected to peak at 75.1% of GDP
  • Other positives include tax breaks for consumers, lower company tax rate and fact that state won’t allocate extra funds to state-owned enterprises
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.