Posts Tagged ‘government’

Moody’s Downgrades South Africa to Junk

Moody’s Investors Service issued its junk status rating after close of trade on Friday 27th March, stripping South Africa (“SA”) of its last remaining investment-grade rating. SA’s international credit rating is now below investment grade by all three credit rating agencies, namely Moody’s, Fitch and Standard and Poor’s. The move was expected in the face…

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Coronavirus – Update

We don’t yet know how dangerous the new coronavirus disease (COVID-19) that was first reported in Wuhan, China, on 31 December 2019 is, and we won’t know until more data becomes available. What we do know is that the probability of dying if infected by the virus is significantly higher for vulnerable members of the…

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#Budget2020: Budget Highlights

The 2020 South African Budget delivered by Treasury yesterday is focussed on doing the right things: Directly addressing the elevated civil service wage bill by cutting it, rather than increasing taxes. Rebalancing expenditure towards capital from consumption; and Being mindful of negatively impacting economic growth amid its fiscal consolidation efforts.   Budget Framework The main…

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Time to hold your breath…it’s Budget week

Hold on to your seats and your wallets – it’s Budget week and whichever way one looks at it, it’s bound to be something of a roller-coaster week, particularly for the rand. Markets and investors are losing faith in the reform narrative and promises of President Cyril Ramaphosa’s government, whether justified or not. Having been…

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For COVID-19 updates, visit the South African Government's official portal www.sacoronavirus.co.za