Fitch sceptical about medium-term budget forecasts

Ratings agency’s doubts on growth echoed by parliamentary budget office and Financial and Fiscal Commission

​Ratings agency’s doubts on growth echoed by parliamentary budget office and Financial and Fiscal Commission   

Ratings agency Fitch has expressed scepticism about the Treasury’s ability to deliver on last week’s medium-term budget policy estimates, saying the government will probably have to spend more on public sector pay and on bailing out Transnet than it has budgeted for and debt will end up higher.

But the ratings agency conceded that if the Treasury could achieve its targets, that would be positive for SA’s credit ratings, as would an uplift in economic growth over the medium term…

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