JOHANNESBURG. – Credit rating agency Fitch has raised its forecast for South Africa’s economic growth and said the country’s budget deficit for the fiscal year will likely be smaller than the government’s earlier projections.
But this doesn’t mean a positive ratings adjustment is on the cards yet, it said.
In a statement last week, Fitch revised its earlier forecast of 4,9 percent growth in 2021 up to 5,3 percent. It further said a “robust economic performance” and stronger-than-expected fiscal revenue in recent months meant SA’s budget deficit in the fiscal year ending in March 2022 would likely be an improvement on […]
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