Nontando Mafanya
06 June 2016
Ratings agency Standard &
Poor's Global says it does not see South Africa's economy slipping into a
recession any time soon but has warned that economic reforms need to be
implemented to avoid a downgrade in December.
On Friday, the agency decided
to keep its outlook for South Africa unchanged at BBB-minus with a negative
outlook, meaning the country avoided junk status.
Economist Kevin Lings says it
may be optimistic to say the country is completely out of the woods when it
comes to a recession.
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