South Africa is making progress towards avoiding rating downgrades despite the economy not growing fast enough, Finance Minister Pravin Gordhan told a trade union gathering on Wednesday a week before reading his mid-term budget speech. Ratings agencies have warned they could cut the country’s credit rating to “junk” by year-end if the country does not lift growth to at least 1% annually.
Source: www.engineeringnews.co.za
South Africa can avoid credit downgrades – Gordhan
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