“High unemployment, income inequality, and the social and political challenges they imply for policymakers are proving strong obstacles to the government’s plans to raise potential growth.”
The rand was weaker on Tuesday morning, ahead of a busy week, with SA’s weak domestic growth prospects and load-shedding putting pressure on the local currency.Moody’s Investors Service said on Monday that low growth and the limited scope to reduce spending will keep SA’s fiscal deficits elevated in 2020, with the prospect of SA receiving a junk status rating from that agency one of the major risks to the rand in 2020.
“High unemployment, income inequality, and the social and political challenges they imply for policymakers are proving strong obstacles to the government’s plans to raise potential growth,” Moody’s said.
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