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Moodys’ dubs SA’s Q1 GDP contraction credit negative


It also cut its forecast for the country’s 2019 economic growth to 1.0% from 1.3%.

South Africa’s first-quarter economic contraction has been labelled “credit negative” for government revenue and policy options by ratings agency Moody’s.

According to a report [ublished by EWN, Moody’s is the last of the big three international credit firms to rate South Africa at investment grade.

It also cut its forecast for the country’s 2019 economic growth to 1.0% from 1.3%. Citizen

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