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S&P leaves SA’s credit rating unchanged
âWe’ve been given a breathing space…and I think it’s now very much in our hands to demonstrate that the commitments we’ve made to turn this economy around will begin to be realisedâ: Prof Raymond Parsons â NWU Business School. 20:00
NOMPU SIZIBA: The Standard & Poor’s and Fitch ratings agencies both left their ratings positions on South Africa unchanged on Friday â both of whose ratings for South Africa are several notches down in junk status. The usual bugbears were flagged â those being the countryâs structural constraints, the need to get on top of fiscal sustainability issues, and the relatively slow vaccination rollout.
Fitch warns SAâs slow rate of vaccine roll-out poses risk to economy
By Siphelele Dludla
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JOHANNESBURG - FITCH Ratings Agency on Friday warned that the Covid-19 pandemic would continue to pose risks for South Africaâs economy well into 2022 as vaccine roll-out was proceeding slowly.
Fitch said South Africaâs medium-term growth would remain low at less than 2 percent, a key rating constraint, complicating fiscal consolidation as reforms remained limited in scale and slow in implementation.
It said this will also limit the government s ability to contain the debt-to-GDP ratio.
âThe government has secured enough doses to inoculate the adult population, but most will arrive only in the second half of 2021,â Fitch said.
‘There could be no objection in principle to the idea of a state bank having a role in the South African economy – if it is well done and it is efficient’: Prof Raymond Parsons from NWU Business School.