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South Africa's Credit Rating Upgrade Likely, Analysts Predict

11/12/2025

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Summary

Story summary

S&P Global Ratings is reviewing South Africa's sovereign credit rating for an upgrade driven by improved public finances and investor sentiment.
Goldman Sachs expects a positive outcome after Finance Minister Enoch Godongwana's budget update.
The National Treasury expects a budget deficit of 4.5% of GDP, and a Bloomberg survey shows four of eight economists expect an upgrade.

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Story summary

S&P Global Ratings is reviewing South Africa's sovereign credit rating for an upgrade driven by improved public finances and investor sentiment.
Goldman Sachs expects a positive outcome after Finance Minister Enoch Godongwana's budget update.
The National Treasury expects a budget deficit of 4.5% of GDP, and a Bloomberg survey shows four of eight economists expect an upgrade.