Moody's looking 'very carefully' at fiscal stance: Mboweni

Finance Minister Tito Mboweni responds to questions by MPs after delivering a sobering medium-term budget yesterday.

CAPE TOWN - Ratings agency Moody's told National Treasury it was looking "very carefully" at the country's fiscal stance and will release its view on Friday, Finance Minister Tito Mboweni told parliament.

Mboweni spoke a day after he gave a bleak mid-term budget statement, which forecast wider deficits and soaring debt.

WATCH: Mboweni responds to Parliamentary questions

Moody's is the last of the big three ratings agencies to have South Africa in investment grade.

"Moody's said they will release their view tomorrow, and they were looking very carefully at our fiscal stance. At the most I hope they keep the rating where it is. ... It's not looking good," Mboweni said.

Source
Reuters