SA economy not out of the woods just yet: Economist
Some economists feel South Africa’s economy is not out of the woods just yet.
Dawie Roodt feels the economy being kept on a negative outlook could usher in a few months of uncertainty in the markets. Roodt has been commenting after American ratings agency Standard & Poor’s announced yesterday that South Africa had avoided a downgrade to junk status.
Roodt says the decision provides some relief for now, but it is no reason to celebrate just yet.
"The financial markets simply do not like uncertainty. It is good news without a doubt. We have got a couple of months to sort ourselves out and pull up our socks, but whether we will be able to do that I am not so sure," he said.
"So a downgrade still looms. However, in the meantime we better make good use of this opportunity because it will not be repeated," Roodt said.
(File photo)