Fitch Ratings believes the revised revenue projections and the deficit for fiscal year 2024/25 are “optimistic (”, and says the National Treasury is likely to have to allocate more resources for state-owned companies (SOEs).

In its response to the 2024 national budget presented by finance minister Enoch Godongwana last Wednesday, the US-based credit ratings firm on Monday said the SA government had not factored additional support it will have to give to SOEs into its debt forecasts, which is why the latest fiscal projections show smaller budget deficits than previously forecast...

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