33%

The Star Late Edition - - BUSINESS REPORT -

of sub-Sa­ha­ran Moody’s sov­er­eigns down­graded in 2016 tin­ues to ad­just to lower com­mod­ity prices.

Growth in South Africa and oil ex­porters was ex­pected to be weaker, while growth in economies that are not nat­u­ral-re­source in­ten­sive should re­main ro­bust.

It said growth in South Africa was ex­pected to edge up to a 1.1 per­cent pace this year, while Nige­ria is fore­cast to re­bound from re­ces­sion and grow at 1 per­cent.

Last week, Moody’s said it was more likely to make more rat­ing calls

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