logo

South Africa making little progress in economic reform: S&P

PUBLISHED: Thu, 03 Nov 2016 08:49:39 GMT

Share

South Africa’s is making little progress in turning around the economy as political wrangling delays the implementation of reforms, raising the risk of a credit downgrade to sub-investment grade, S&P Global Ratings said on Thursday.

“If things deteriorate further it becomes difficult to continue believing that government can implement the things they say want to do, that they can turn around the economic situation,” said Gardner Rusike, the associate director for S&P global ratings.


Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.