JOHANNESBURG, March 9 (Reuters). The South African 2021 budget was not focused enough on economic reforms making a sustained recovery in gross domestic product unlikely, S&P Global Ratings said on Tuesday.
“There has been some fresh impetus for promoting structural reform … but it’s still pretty thin, and again the budget has been more of a budget control than structural reform,” S&P analyst Ravi Bhatia said during a webinar.
“So there is no reason to really expect a major, sustained recovery in growth in the future. So this is worrying. “(Reporting by Mfuneko Toyana editing by Promit Mukherjee)