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S&P's non review of credit rating means SA remains on BB-rating with stable outlook

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Ratings agency S&P did not release a review of South Africa's credit rating citing unchanged factors since its last review earlier this year.

That’s compared to R5.2trillion projected in February this year and is lower each year from the financial year ending March next year throughout 2025. At the same time, debt as a percentage of GDP had dropped to 70.7%, for 2020/21, compared to 80.3% projected in the February 2021 budget.

In response to the Covid pandemic that ravaged the economy and jobs, government moved to support households by introducing a social relief of distress grant last year. And while the finance minister gave no additional bailouts for troubled SOEs, the pressure they could put on the fiscus remain a concern.

 

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