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Moody’s says South Africa budget credit negative; central bank flags growth fears
JOHANNESBURG (Capital Markets in Africa) – Ratings agency Moody’s said on Monday the budget statement presented by South African Finance Minister Malusi Gigaba last week was credit negative, while a central bank official raised concerns over economic growth. Gigaba shocked markets on Oct. 25 by flagging sharply weaker growth expectations, wider deficits and rising government debt. The comments by Moody‘s, which along with S&P Global is expected to review South Africa’s credit ratings next month,…
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