File: Fitch said the outlook revision reflects a marked widening in the budget deficit as a result of lower GDP growth and increased spending.
JOHANNESBURG - Ratings agency Fitch has kept South Africa’s investment grade at junk status with a stable outlook.
The agency says the country’s ratings are weighted down by low growth prospects and sizeable government debt.
The risk of rising social tensions fuelled by high inequality is also dragging down the score.
Treasury says it'll continue to engage with stakeholders in fast-tracking its growth reform plans.
Following a prolonged contraction of the economy, the ratings agency is expecting a rebound in investment which will see the economy grow by 2.1 percent in 2019.