S&P Global keeps South Africa's credit ratings unchanged
The S&P Global Ratings agency has kept South Africa’s sovereign credit ratings unchanged.
The agency affirmed the country’s long- and short-term foreign currency sovereign credit ratings at BB- and its local currency ratings at BB, and the outlook remains positive.
The agency expects the local economy to grow at 1.3% this year after a subdued 0.6% growth last year.
The forecasted growth 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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