South Africa: Statement On the Cabinet Meeting of 8 June 2016

press release

1.1. We have noted the reviews by international rating agencies Fitch, Standard & Poor's and Moody's, which reaffirmed South Africa's investment grade credit rating and maintained its stable outlook. The rating reviews affirm the continuing work by government to turn the economy around and give the country the necessary space to continue implementing its intervention plans.

1.2. The dedicated work of Team South Africa constituted by government, business and labour is ensuring that South Africa avoids a junk status rating. South Africa is implementing programmes from the National Development Plan (NDP) which will ensure that the country remains an investment destination. This demonstrates that working together we can reignite our economy, attract investment and create much-needed jobs for South Africans.

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