ANC Welcomes Moody’s Decision Changing Outlook to stable
24 March 2018
The African National Congress notes and welcomes the decision by Moody’s Investor Research Services to confirm South Africa’s credit rating at investment grade and to change our outlook from negative to stable. This decision affirms the work of the ANC-led government, together with our social partners, to implement measures aimed at recovery of the South African economy as well as sustaining the ongoing positive mood.
Whilst this decision offers a welcome reprieve, much more remains to be done to ensure that our economy remains on the correct trajectory. The ANC reaffirms its commitment to support government in the quest to strike the necessary balance between fiscal consolidation and investment in pressing social needs including the development of economic and social infrastructure, and consolidating the social security net which the most vulnerable in our society rely on.
The ANC commends government, the private sector, labour and civil society for their collaborative approach to resolving the challenges that continue to constrain our economy. We call on them to continue to work together to create conditions that will yield higher levels of economic growth required to create jobs and restore confidence through amongst others restoring the credibility and proper governance of our State Owned Companies.
The ANC is further encouraged by the latest developments which are consistent with the commitments of the collective leadership of the National Executive Committee to pursue focused programs on renewal, unity and jobs during the centennial year of Isithwalandwe/Seaparankoe President Nelson Mandela.
Issued by the African National Congress
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