SA’s ratings revival comes with a warning: don’t ignore the ‘uglies’
Fitch’s first upgrade in 21 years caps a remarkable turnaround, but hidden liabilities, weak growth, and structural problems stand between the country and investment-grade status.
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Budget | Fitch questions Treasury’s fiscal consolidation narrative
National Treasury forecasts a narrowing deficit, from 4.8% of GDP in 2025/26 to 3.8% in 2026/27. Fitch, however, projects larger deficits of 5.1% and 4.5% respectively.
