February 27, 2020 / 5:32 PM / a month ago

Moody's says risks to South African budget forecasts elevated

JOHANNESBURG, Feb 27 (Reuters) - Ratings agency Moody’s said on Thursday risks to South Africa’s budget forecasts were elevated, ciiting uncertainty over talks with trade unions over the public sector wage bill and potential contingent liabilities from struggling state companies.

Moody’s, the last of the big three ratings agencies to have South Africa in investment grade, added in a research report that the risks remained skewed towards a higher debt path, given challenges in containing spending and persistent obstacles to economic growth.

Reporting by Alexander Winning and Karin Strohecker Editing by Mark Heinrich

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