South Africa committed to growth

JOHANNESBURG: South Africa Treasury reacted to a Fitch downgrade of the country's outlook on Friday by saying it remains committed to the prudent execution of growth and policies that boost employment.

The National Treasury said in a statement it viewed the downgrade in the context of "the challenges that the global economy is going through and the persistent uncertainty in the global economic environment."

Fitch said it downgraded the outlook because it had seen limited progress on several long-standing structural issues, such as chronic unemployment, that had caused Africa's biggest economy to fall behind its peers.