Despite a 2021 budget that committed to greater fiscal consolidation, both Moody’s Investors Service and Fitch Ratings appeared doubtful about the government’s ability to deliver on all its promises.
Finance minister Tito Mboweni’s recent budget attempted to balance support for an economy still reeling from the Covid-19 pandemic with firm commitments to spending restraint, in particular suppressing the public sector wage bill...A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
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