Close Menu
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact

Subscribe to Updates

Get the latest technology news from TechFinancials News about FinTech, Tech, Business, Telecoms and Connected Life.

What's Hot

R6.5M Range Rover SV Polar Night: Only 5 for SA

2025-09-01

Pepe Coin Price Forecasts; Floki Inu Latest News & Top Crypto Investment To Make In 2025

2025-08-31

BNB Hits $900 In August As Analysts Give Their Latest Binance Coin Price Predictions

2025-08-31
Facebook X (Twitter) Instagram
Trending
  • R6.5M Range Rover SV Polar Night: Only 5 for SA
Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp RSS
TechFinancials
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact
TechFinancials
Home»News»S&P Upgrades SA’s Credit Rating Outlook To Positive
News

S&P Upgrades SA’s Credit Rating Outlook To Positive

AgencyBy Agency2022-05-23Updated:2022-05-23No Comments2 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Government
Economic cooperation is the linchpin of the US-SA bilateral relationship. Shutterstock
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Government has welcomed rating agency Standard &Poor’s (S&P) decision to revise South Africa’s credit rating outlook to positive from stable, while affirming the long term foreign and local currency debt ratings at ‘BB-’ and ‘BB’, respectively.

According to S&P, recent favourable terms of trade in South Africa have improved the external and fiscal trajectory, while the country’s reasonably large net external asset position, flexible currency and deep domestic capital markets provide strong buffers against shifts in external financing.

In addition, the agency expects South Africa to post a current account surplus in 2022 for the third consecutive year, as prices for key metals and mining exports have risen significantly since the start of the Russia-Ukraine conflict.

S&P also noted some improvement on the implementation of key reform targets under Operation Vulindlela – established in October 2020 as a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms – as well as higher than-expected tax revenue.

The National Treasury in a statement said: “As stated in the 2021 Medium Term Budget Policy Statement and 2022 Budget, government is using a portion of the additional revenue to accelerate debt stabilisation, with the majority targeted to address urgent social needs, promote job creation through the presidential employment initiative, and support the public health sector.”

The department said faster implementation of economic reforms, accompanied by fiscal consolidation to provide a stable foundation for growth, would support a faster recovery and higher levels of economic growth over the long term. – SAnews.gov.za

S&P South Africa South Africa economy
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Agency

Related Posts

Zayna Mahomed Is EPF Solve’s For X August Winner 

2025-08-29

Eskom Fraudster Sentenced, Ordered To Repay R2.6M

2025-08-29

WeThinkCode_ Graduates Stand Out In Job Market With Cutting-Edge Industry Electives

2025-08-26

Africa Can Turn Its Minerals Into Green Gold

2025-08-26

SwapVend Launches Its Minimum Viable Product To Bridge SA’s Informal And Formal Economies

2025-08-25

MortgageMarket & Takealot Launch SA’s 1st E-Commerce Home Loan Hub

2025-08-25

Spaza Market Lays The Foundation For Africa’s Enterprise Economy

2025-08-25

Why South Africa Is The Hidden Powerhouse For Global Executive Search

2025-08-25

University Of Pretoria Ranked No. 1 In SA For Artificial Intelligence Research

2025-08-24
Leave A Reply Cancel Reply

DON'T MISS
Breaking News

BankservAfrica Rebrands As PayInc

The financial market infrastructure giant BankservAfrica has officially been rebranded to PayInc. The launch, held…

KZN’s First Supercar-Centric Luxury Residential Development Unveiled

2025-08-27

Government Pensions Administration Agency CEO Placed On Precautionary Suspension

2025-08-26

Airtel Africa & Vodacom Forge Landmark Infrastructure Partnership

2025-08-12
Stay In Touch
  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
OUR PICKS

R6.5M Range Rover SV Polar Night: Only 5 for SA

2025-09-01

SA’s Skhokho 2.0 Puts Enterprise AI In SME Hands

2025-08-28

Vodacom Invests R400M To Expand Network In Free State And Northern Cape

2025-08-26

Elon Musk’s Starlink Backs BEE Equity Equivalents, Not 30% Ownership

2025-08-18

Subscribe to Updates

Get the latest tech news from TechFinancials about telecoms, fintech and connected life.

About Us

TechFinancials delivers in-depth analysis of tech, digital revolution, fintech, e-commerce, digital banking and breaking tech news.

Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp Reddit RSS
Our Picks

R6.5M Range Rover SV Polar Night: Only 5 for SA

2025-09-01

Pepe Coin Price Forecasts; Floki Inu Latest News & Top Crypto Investment To Make In 2025

2025-08-31

BNB Hits $900 In August As Analysts Give Their Latest Binance Coin Price Predictions

2025-08-31
Recent Posts
  • R6.5M Range Rover SV Polar Night: Only 5 for SA
  • Pepe Coin Price Forecasts; Floki Inu Latest News & Top Crypto Investment To Make In 2025
  • BNB Hits $900 In August As Analysts Give Their Latest Binance Coin Price Predictions
  • SUI Price Prediction: Remittix Expected To Rise Over 4,000% This Year After Winning Top Crypto Presale Award
  • Ethereum Price Heading Towards $4,000 As Crypto Markets Drop But This Altcoin Continues To Surge
TechFinancials
RSS Facebook X (Twitter) LinkedIn YouTube WhatsApp
  • Homepage
  • Newsletter
  • Contact
  • Advertise
  • Privacy Policy
  • About
© 2025 TechFinancials. Designed by TFS Media.

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.