Moody’s Says South African Budget Delivered ‘Strong’ Performance
Finance Minister Enoch Godongwana ahead of his budget speech in Cape Town, on Feb. 25.
Photographer: Dwayne Senior/BloombergSouth Africa’s latest budget painted an encouraging picture of improving public finances, according to Moody’s Ratings, while cautioning that “meaningful” debt reduction will require stronger economic growth.
The budget “confirms South Africa’s strong fiscal performance, underpinned by broad-based revenue growth, and points to improving fiscal prospects,” said Evan Wohlmann, Vice President-Senior Credit Officer at Moody’s.