S&P Global Ratings has given SA a reprieve by maintaining its foreign currency rating at BB- with a stable outlook.

The agency did, however, warn in its report issued late on Friday that: “Lower revenue owing to softening commodity prices and rising spending pressures from the wage bill, potential support to financially weak state-owned enterprises (SOEs), the social relief of distress (SRD) grant, and debt service expenditure, will drive steady debt accumulation over the forecast period through to fiscal 2026.”..

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