{"id":244114,"date":"2022-11-28T10:29:01","date_gmt":"2022-11-28T08:29:01","guid":{"rendered":"https:\/\/www.myza.co.za\/government-notes-fitchs-sa-bb-rating\/"},"modified":"2022-11-28T10:29:01","modified_gmt":"2022-11-28T08:29:01","slug":"government-notes-fitchs-sa-bb-rating","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/government-notes-fitchs-sa-bb-rating\/","title":{"rendered":"Government notes Fitch\u2019s SA \u2018BB-\u2019 rating"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.sanews.gov.za\/sites\/default\/files\/2012\/images\/newsstorytemplate\/202211\/lowincome.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p class=\"default\">Government says it has noted Fitch\u2019s decision to affirm South Africa\u2019s long term foreign and local currency debt ratings at \u2018BB-\u2019 and maintained a stable outlook.<\/p>\n<p class=\"default\">This comes after the rating agency on Friday had kept South Africa at sub-investment grade.<\/p>\n<p class=\"default\">According to Fitch, the affirmation takes into account the recent over-performance of revenue and government\u2019s strong efforts to control expenditure which, if continued successfully, could bring about debt stabilisation.<\/p>\n<p class=\"default\">In a statement, the National Treasury said: \u201cHowever, the agency assumes a substantial part of recent higher revenues to be temporary and sees current public sector wage demands pointing to increased upward pressure on spending.\u201d<\/p>\n<p class=\"default\">The department said government\u2019s fiscal strategy reduces risks to the economy and public finances over the medium term.<\/p>\n<p class=\"default\">\u201cThe higher-than-anticipated revenues will be used to reduce the gross borrowing requirement, support spending priorities and reduce risks to the fiscal outlook.<\/p>\n<p class=\"default\">\u201cGovernment is working to improve the efficiency of spending and remains committed to returning public finances on a sustainable path,\u201d reads the statement.<\/p>\n<p>According to the agency, South Africa\u2019s ratings continue to be supported by a favourable debt structure with long maturities and mostly denominated in local currency as well as a credible monetary policy framework. \u2013&nbsp;<strong>SAnews.gov.za<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government says it has noted Fitch\u2019s decision to affirm South Africa\u2019s long term foreign and local currency debt ratings at \u2018BB-\u2019 and maintained a stable outlook. This comes after the rating agency on Friday had kept South Africa at sub-investment grade. According to Fitch, the affirmation takes into account the recent over-performance of revenue and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":244115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[38678],"class_list":{"0":"post-244114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-south-africa","8":"tag-sanews","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/11\/government-notes-fitchs-sa-bb-rating.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/244114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=244114"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/244114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/244115"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=244114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=244114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=244114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}