SA is likely to suffer further ratings downgrades as the economy struggles to recover from the devastating impact of Covid-19 and recent unrest, while ongoing spending pressures on the government continue to weigh on the country’s fiscal debt position, says Absa.

Though Absa welcomed recent policy decisions such as the lifting of the licensing threshold for embedded electricity generation to 100MW, it said that without much more aggressive structural reforms further credit rating downgrades are “more likely than not”...

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