Ramaphosa plan ‘won’t af­fect S&P out­look’

The Sunday Independent - - METRO -

A SE­NIOR an­a­lyst at rat­ings agency S&P Global said Pres­i­dent Cyril Ramaphosa’s stim­u­lus plan did not af­fect its sta­ble out­look on the coun­try’s sov­er­eign rat­ing. Ramaphosa said last week the gov­ern­ment would use R50 bil­lion of “repri­ori­tised ex­pen­di­ture and new project-level fund­ing” to boost growth, and a new min­ing char­ter was un­veiled, to at­tract fur­ther in­vest­ment. “The pack­age has some good ini­tia­tives fo­cus­ing on job-cre­ation and in­fra­struc­ture. And the changes to the min­ing char­ter are pos­i­tive… ,” Ravi Bha­tia said. “It seems like the plan will not im­pact on the fis­cal bot­tom line but rather do re­al­lo­ca­tions and fo­cus on im­ple­men­ta­tion.” | Reuters

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