The Standard and Poor (S&P) Global Ratings has kept South Africa’s credit ratings unchanged despite the country’s worsening debt.
S&P announced a stable outlook for the country’s long-term foreign and local currency debt ratings.
The agency expects private-sector electricity generation to ease power shortages and contribute to better GDP growth.
The government has welcomed the decision, saying it will focus on growing GDP.
It says this will be achieved by improving electricity supply and logistics, enhancing the delivery of infrastructure, and restructuring the state.
Finance Minister Enoch Godongwana recently revealed government debt is expected to reach 77% by 2025.
-eNCA
In other news – Sad video of Pearl Thusi leaves Mzansi worried
Mzansi was ablaze when media personality Pearl Thusi shared a video of herself crying out for help. In the video, the Queen Sono star (35) put it out there that she was emotionally damaged and that she needed her friends to check up on her.
But recently, Pearl went on a full 360, claiming she was perfectly fine and that her cry for help was merely a joke. “I didn’t know that South Africans can’t be played with. Read More