Pravin Gordhan disagrees with Moody's

Public Enterprises Minister, Pravin Gordhan says he doesn't agree with Moody's. The rating agency on Friday changed its outlook on South Africa to negative, saying the government is unable to turn things around.  Gordhan spoke to Karima Brown on The Fix.

JOHANNESBURG - Public Enterprises Minister, Pravin Gordhan says he doesn't agree with Moody's.

The rating agency on Friday changed its outlook on South Africa to negative, saying the government is unable to turn things around.

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

Gordhan says, on the contrary, we can bring about change if we all put our efforts together.

He spoke to Karima Brown earlier on The Fix.

"Where I disagree with Moodys is that in some sectors the political capital is certainly there as well as the ideas to bring about the necesary changes. Eskom is one example. There are opportunities for us."

"Just like the Springboks did, if we take out opportunities and score the tries then we will emerge as victors." 

WATCH: Moody's: SA escapes junk status, outlook changed to negative

Moody's says the decision to change the outlook was a reflection on the financial deterioration. 

The agency also pointed out the risks of South Africa not being able to stop the fall through a revival in economic growth or fiscal consolidation measures.

Watch the video above for more.

Source
eNCA