Ratings agencies cast doubt over spending cuts

Moody’s, Fitch and S&P Global are singing from the same hymn sheet. The ratings agencies are doubtful about finance minister Tito Mboweni’s debt stabilisation plan. S&P Global is the lastest reviewer to add its voice to the growing concern but is also the only ratings agency that has a stable outlook on the economy. Business Day TV spoke to Ravi Bhatia, Director of Sovereign Ratings at S&P Global for his perspective on where the economy is headed.