DOWNGRADE AND JUNK STATUS LOOMS ON THE HORIZON FOR THE SOUTH AFRICAN ECONOMY: FINANCE MINISTER IN A NO WIN SITUATION AS TOXIC POLITICS TAKES CENTER STAGE

Abstract

There grave and serious concerns that confront the South African economy. This article looks at the South African economy, in terms of the possible downgrade to “junk” status that looms on the horizon by rating agencies. It will therefore, look at re - called South African Finance Minister Pravin Gordhan’s 2016/2017 budget statement (February, 2016), to analyze and determine whether his budget statement can place South Africa on a growth path, in order to avoid a sovereign ratings downgrade by rating agencies. This budget will be the most important budget post democracy in 1994 and, after twenty-one years of freedom. It is blatantly important from the perspective that the South African economy is in shambles and in complete tatters because of the grave mistakes made by Jacob Zuma, the Machiavellian President of South Africa.