JOHANNESBURG Jan 13 (Reuters) – South Africa’s
Treasury reacted to a Fitch downgrade of the country’s outlook
on Friday by saying it remains committed to the prudent
execution of growth and policies that boost employment.
The National Treasury said in a statement it viewed the
downgrade in the context of “the challenges that the global
economy is going through and the persistent uncertainty in the
global economic environment.”
Fitch said it downgraded the outlook because it had seen
limited progress on several long-standing structural issues,
such as chronic unemployment, that had caused Africa’s biggest
economy to fall behind its peers.
(Reporting by Xola Potelwa; Editing by Jon Herskovitz)
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