Gordhan praises efforts to support economic growth
Speaking at the Union Buildings, Finance Minister Pravin Gordhan says he is confident that enough has been done to help improve the prospects of economic growth ahead of meetings with ratings agencies over the next few months.
Leaders from business and labour where meeting with President Jacob Zuma during the Presidential CEOs Initiative.
Zuma was reporting back on progress made since their last meeting in May to explore ways of tackling South Africa's slow economic growth.
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Gordhan says the agencies want to see proof that the country has taken steps in the direction to improve the situation.
"We feel confident that the work we have been doing together will provide sufficient evidence that we were serious about commitments we made to improve prospects for growth, stabilise our financial situation, and ensure that government keeps to its undertaking to continue with fiscal consolidation although it's going to be very tough in a low growth environment in a low growth environment where you lose revenue as well," he said.
Earlier this month, government issued a statement saying that its made bold decisions to restore investor confidence in the economy. Government says it's received assurances from financial giants such as Beijing, Japan and Germany's Deutsche Bundesbank.