67986
South Africa Urged to Boost Economy
South Africa Urged to Boost Economy

South Africa Urged to Boost Economy

South Africa Urged to Boost Economy

The ruling African National Congress voiced concern over a decision by international rating agency Moody’s to downgrade South Africa’s credit rating, Xinhua reported. The ANC called on government, the private sector and organized labor to use this latest downgrade as a catalyst for greater urgency in working to alter the country’s economic trajectory and boost confidence in the economy. “In particular, we call on the social partners to work together to expand private sector investment in the local economy, continue to maintain the stable labor relations environment, remain focused on government’s program of fiscal consolidation and strengthen governance in the state-owned companies and state institutions in general,” the party said in a statement emailed to Xinhua. Moody’s downgraded South Africa’s credit rating on Friday to one level above junk status with a negative outlook. The agency lowered the country by one notch from Baa2 from Baa3. Amongst the reasons cited for the decision is the perceived weakening of South Africa’s institutions, sluggish economic growth, slow implementation of structural reforms and policy uncertainty.

 

Short URL : https://goo.gl/D9V9pF
  1. https://goo.gl/F8YXME
  • https://goo.gl/VZHbXW
  • https://goo.gl/q2MMpQ
  • https://goo.gl/4fd85i
  • https://goo.gl/MXZe1A

You can also read ...

Cyber threats are ever-evolving.
The White House released a report that found that the economic...
Global Investors Target Zimbabwe Energy Sector
Zimbabwe has become a magnet for billionaire global firms such...
BSP said the planned RRR cuts are part of the bank’s financial market reforms.
The Bangko Sentral ng Pilipinas said it was reducing banks’...
FAO regional representative Julio Berdegue (R), and the deputy regional representative Eve Crowley.
Identifying territories where rural poverty is most entrenched...
Lagarde Backs Creation of European Monetary Fund
International Monetary Fund chief Christine Lagarde has no...
Asean Labor Flows Hit a Wall
Tighter restrictions on foreign labor in Malaysia and Thailand...
The country’s GDP grew by 3.2% in 2017 but will  edge down in the coming years.
A report by the International Monetary Fund showed Sunday that...
Baby-boomers will start turning 75 or older in 2022, which is expected to trigger a surge in health care and nursing care costs.
Amid stalling inflation and ballooning government spending,...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus