Little progress made in turning economy around: S&P

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File: According to ratings agency Standard and Poor's, South Africans are looking at a tough 2016.

JOHANNESBURG - South Africa's making little progress in turning around the economy.

That's the view of ratings agency Standard & Poor's.

The agency says political wrangling has delayed the implementation of reforms.

This has in turn raised the risk of a credit downgrade to sub-investment grade.

S&P says it  would like to see government issue a progress report on how the growth outlook has improved in the medium term.

It also wants to see whether business confidence has improved.

 

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