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South African Govt Reaffirms Growth, Job-Friendly Policies

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South Africa remained committed to prudent economic policies supportive of growth and job creation, the National Treasury said at the weekend following ratings agency Fitch's revision of the outlook on the country's sovereign credit rating. Fitch Ratings announced on Friday that it had affirmed South Africa's long-term foreign and local currency credit rating at BBB+ and A respectively, but that it had revised the outlook from stable to negative.

Sub-Saharan Africa Shows Robust Growth

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The international ratings agency, Fitch Ratings, said that Africa's resilience to the global economic crisis was largely due to domestic factors such as a strong pre-crisis growth, economic liberalisation and strengthening of public investment.
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