S&P Global raises South Africa’s credit rating outlook

International credit rating agency S&P Globalpublished its new report evaluating South Africa’s credit rating and outlook.

In the statement, South Africa’s long-term credit rating in foreign currency was “BB-“, short-term credit score”B“long-term credit rating in local currency”BB” and short-term credit score “BIt was stated that it was confirmed as “.

Outlook revised to “positive”

The country’s credit rating outlook has changed due to the impact of economic reforms.stable“And “positiveS&P Global stated that this change was due to the positive effects of potential economic recovery and reforms.

Economic prospects

S&P Global, South Africa Gross Domestic Product (GDP) He announced that he expects growth to be 1.0 percent in 2024 and to increase to 1.4 percent in the 2025-2027 period. However, the statement emphasized that ongoing logistics bottlenecks will continue to have a restrictive impact on economic activity.

The organization stated that the new National Unity Government’s acceleration of economic reforms and the increase in private investments may provide stronger support than expected.

This assessment is considered an important step that can increase the interest of international investors in the country at a time when the South African economy is showing signs of potential recovery.