South Africa: The government wants to avoid the downgrade – Jeune Afrique

 South Africa has avoided the downgrade of its debt despite a record unemployment rate to 26.7% in the first quarter of 2016, said Monday the Minister of the Presidency Jeff Radebe.

“Our economy, which is currently at its low pace of growth since the global economic crisis of 2008 can recover and will recover, “assured Jeff Radebe reporters in Johannesburg.

the south African economy, particularly based on the mining, idle for several years because of the fall in prices of raw materials.

the latest forecast of the International monetary Fund (IMF), the south African growth should not exceed 0 6% this year

Two credit rating agencies, S & amp;. P and Fitch, must reassess the rating of South Africa next month

in early December, Fitch. had downgraded by one notch the country’s rating to BBB-, just one notch above speculative categories, mainly because of lower growth.

last week, Moody’s maintained its rating of the country two levels above speculative categories, but lowered its outlook from “stable” to “negative”

“We remain optimistic about the fact that S & amp;. P and Fitch will not lower our rating and make us fall in the categories + risk +, “said Jeff Radebe.

When asked by the AFP , the Minister assured that South Africa would” overcome the “current economic storm.

” We have not lost our momentum, so Moody’s maintained our bill. This shows that our economy can withstand the global slowdown and domestic challenges, “he said.

On Monday morning, the National Bureau of StatsSA Statistics released the latest unemployment figures for the first quarter 2016, a new record in the number of unemployed persons.

“There are 521,000 new unemployed, bringing the unemployment rate to 26.7%”, against 24.5% last quarter 2015, according to StatsSA.

for several months, the south African President Jacob Zuma is under fire from critics for both its deemed disastrous economic management by the opposition parties for the corruption scandals in which he is involved.

If Jeff Radebe for “many” can be done to “improve South Africa’s image,” “all the ills of the country should not be attributed to a one person “.

in addition to the opposition, several figures of the struggle against apartheid demanded his resignation, but Jacob Zuma retains at the confidence of his party, the African National Congress ( ANC) enjoys an overwhelming majority in parliament

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