The three main ratings agencies, Fitch, S&P and Moody’s have responded positively to this year’s Budget proposal tabled by Finance Minister Malusi Gigaba in Parliament on Wednesday. This was revealed by Treasury Director- General Dondo Mogajane during the joint committee meeting of Parliament’s Finance Committees.
The Budget is said to be accelerating efforts to narrow the budget deficit from 4.3 percent of GDP to 3.5 percent in 2020/21 and also stabilise growth.
“The preliminary view is that we did well, the preliminary view is that there are no big things that they are questioning, in our view it’s things on the margins that they understand that out of a tough environment, we came out better than we were in October and I think that’s something the committee should know,” says Mogajane.
Click below for more on the budget speech: