It's too late to avoid a downgrade: economist
With a delegation from a rating agency expected in the country in two days' time, an economist believes the day of reckoning is upon South Africa.
Moody's Investors Service placed the country on review last week with the possibility of a downgrade saying it's not convinced by our efforts to ensure economic growth.
South Africa's already a notch from junk status with two other agencies Fitch and Standard and Poor's.
Also read: Rating downgrade could deter investors: economist
Economist Dawie Roodt says the Moody's team will be looking at state debt, political stability, economic growth and other aspects when making a decision.
Roodt believes the Moody's review will lead to a downgrade.
"It is too late for us to do something. Economists have been warning the Minister of Finance, they have been warning politicians,and whoever wanted to listen to us for many years now and we've been saying that we simply cannot afford the rate of increase in state debt," he said.
(File photo: Getty Images)