Treasury has spoken with ratings agencies over budget

South Africa’s director general of national treasury Dondo Mogajane said on Thursday he had spoken with all three major credit ratings agencies to clarify elements of the medium term budget.

“Yesterday we engaged with Moody’s and S&P. This morning we were engaged with Fitch ratings … Later on they will issue their own opinions,” Mogajane told reporters.

Read: Has the MTBPS done enough to appease Moody’s

New finance minister Tito Mboweni delivered his maiden budget on Wednesday, cutting growth forecasts and raising deficit assumptions, sending the rand and bonds lower.