S&P rating choice shows cooperating can reignite economy
Standard and Poor’s decision to maintain the country’s investment rating demonstrated that working together could reignite the economy‚ President Jacob Zuma said on Saturday.
This was after S&P affirmed SA’s rating but kept its negative outlook. “I congratulate team South Africa constituted by government‚ business and labour for the sterling work that has been done over the last few months to turn our economy around‚” he said in a statement. The decision‚ which followed Moody’s “encouraging decision” also showed that through co-operation South Africa could attract investment and create jobs.
“Let us use these positive developments to work even harder together to move South Africa forward‚” said Zuma. The decision was widely welcomed by political parties and the business community.