Finance Minister, Tito Mboweni, says government is prepared to implement measures to improve economic growth and minimise the impact of COVID-19. This comes after ratings agency Fitch downgraded South Africa by one more notch, to BB, with a negative outlook.
“To assure all South Africans, government is seized with addressing and minimizing the impact of COVID-19, implementing measures to improve economic growth and setting government finances on a sustainable trajectory. This work requires close collaboration and coordination across various sectors of the economy,” said Mboweni.
Fitch says this is due to no clear path towards stabilising government debt, as well as the expected impact the coronavirus will have on economic growth. It says the country’s GDP is forecast to contract by 3-point-8 percent this year, and Fitch expects only a moderate recovery next year. Fitch already downgraded South Africa to junk status in 2017.
Moody’s has also downgraded South Africa. Coronavirus Hotline Number: 0800 029 999 from 8 am to 4 pm, Monday to Friday Help protect your loved ones by sharing this official South African government COVID-19 service with your family, friends and community. Send HI to 0600 123 456 on WhatsApp.
The NICD has another Clinician Hotline to improve #COVID19 communication and support for healthcare providers. The Clinician Hotline is 0800 11 1131, operating 24 hrs. The Public Hotline is 0800 029 999 also operating 24hrs.
In other news – This amazing #DontRushChallenge by Mzansi DJs is a must see – Watch
SA’s most famous DJs have come together to shoot the ULTIMATE #DontRushChallenge, and we can’t stop laughing. Shimza, Dimplez, Lulo Café, Twins on Deck, Speedsta, Mo Flava, Fresh, and DJ Tira are some of the DJs who participated in the challenges, which saw them switch from casual to on fleek!
The challenge is named after Young T and Bugsey’s 2019 single Don’t Rush. Read more
Source: eNCA
