October 26, 2017 / 11:34 AM / a year ago

South Africa's shifting away from fiscal consolidation - Fitch

JOHANNESBURG, Oct 26 (Reuters) - South Africa’s medium term budget signals a policy shift by the Treasury away from commitments to cut down deficits and debt and contains no plans to limit the damage to the economy, ratings firm Fitch said on Thursday.

“This suggests that the change in direction of policy making away from a focus on fiscal consolidation that we anticipated as a consequence of March’s cabinet reshuffle is under way and occurring faster than we had expected,” Fitch said in a statement. (Reporting by Mfuneko Toyana; Editing by James Macharia)

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