Moody’s drops assessment of South African economy after surveys
Uncertainty in government policies and high level of unemployment would limit South Africa’s economic growth in the next one year.
Ratings agency, MOODY’S dropped its assessment of the economy after surveys of parameters in its current work.
The agency particularly stressed the effect of political tensions in the economy, doubting the ability of the ruling party to achieve harmony in the social system.
Moody’s projects the South African economy to grow by mere 0.5% this year.