• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

South Africa’s stable outlook unshaken by budget, Moody’s says

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
75
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

South Africa’s stable outlook unshaken by budget, Moody’s says

South Africa’s new budget confirms the already-cautious assessment by Moody’s Investors Service that underpins its stable outlook for the country’s credit rating, while highlighting key risks.

“What we’ve seen is in line with our expectation of the macro economic performance for this year,” said Aurelien Mali, senior credit officer for Moody’s Sovereign Risk Group. “Where there is a difference is in the much lower projection of the revenue in the future, which indicates a fragility that leads to a higher deficit than anticipated,” he said in an interview in Johannesburg on Thursday.

Moody’s rates South Africa’s long-term foreign debt with a stable outlook at a sub-investment grade Ba2, which it defines as carrying substantial credit risk with speculative characteristics. Africa’s most-industrialized economy has been badly hobbled by crippling power cuts, logistics constraints, crime, corruption and high levels of unemployment.

South African Finance Minister Enoch Godongwana told lawmakers on Wednesday the country’s budget deficit would rise to 4.9% of gross domestic product in the fiscal year through March and narrow to 3.6% by 2026-27. Gross debt is seen peaking at 77.7% of GDP in 2025-26, as opposed to February’s forecast of 73.6%.

Investors reacted positively to the budget news despite the sober assessment, with yields on government debt declining sharply as the rand strengthened against the dollar. The ruling African National Congress faces a tough election next year and Godongwana has been under pressure to take an even-softer line on social support.

Mali said that the forecast for debt to stabilize, and the fact that South Africa’s National Treasury had held the line on spending, were encouraging. But it was important to watch whether the projections are met.

RelatedPosts

AfCFTA Secretary-General Mourns Ghana Helicopter Crash Victims

15% US Tariff on Ghanaian Exports Takes Effect Today

President Mahama Reassigns Defence and Environment Ministerial Portfolios Following Fatal Helicopter Crash That Killed Two Ministers

“We know that there are social spending pressures and pressure from the SOE sector that will probably affect the budget,” he said, referring to state-owned enterprises that include the struggling power utility Eskom Holdings SOC Ltd. and Transnet SOC Ltd. “So, the risk of a bigger deterioration than the stabilization of the debt has risen.”

Tags: Moody’s saysMoody'sSouth Africa’s stable outlook unshaken by budget
No Result
View All Result

Highlights

GOC Suspends King’s Baton Relay in Response to Tragic Helicopter Crash Claiming Eight Lives, Including Two Ministers

Kopa Trophy 2025: Yamal, Doue, and Agyemang Lead Nominees for Best Young Player

Letshego Ghana Delivers Strong and Stable H1 2025 Results, Driven by Solid Business Fundamentals

Ghana Chamber of Mines Pays Tribute to Omane-Boamah, Dr Murtala Mohammed and Six Others in Helicopter Crash

FirstBank Ghana Equips Graduate Trainees 

GRTCC Suspends 20% Transport Fare Hike Following Talks with Transport Ministry

Trending

Features

AfCFTA Secretary-General Mourns Ghana Helicopter Crash Victims

August 7, 2025

AfCFTA Secretary-General Mourns Ghana Helicopter Crash Victims The Secretary-General of the African Continental Free Trade Area (AfCFTA),...

15% US Tariff on Ghanaian Exports Takes Effect Today

August 7, 2025

President Mahama Reassigns Defence and Environment Ministerial Portfolios Following Fatal Helicopter Crash That Killed Two Ministers

August 7, 2025

GOC Suspends King’s Baton Relay in Response to Tragic Helicopter Crash Claiming Eight Lives, Including Two Ministers

August 7, 2025

Kopa Trophy 2025: Yamal, Doue, and Agyemang Lead Nominees for Best Young Player

August 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.