Rating agency S&P Global keep SA's ratings positive
S&P Global Ratings has kept South Africa’s sovereign credit ratings unchanged.
The agency affirmed the country’s long- and short-term foreign currency sovereign credit rating at BB minus and its local currency rating at BB, with the outlook remaining positive.
The agency expects the local economy to grow by 1.3% this year after a subdued 0.6% growth last year.
This is expected to be supported by increased private sector electricity generation and the implementation of the two-pot retirement system that could stimulate consumption.
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