{"id":34405,"date":"2022-11-22T18:15:31","date_gmt":"2022-11-22T18:15:31","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt"},"modified":"2022-11-22T18:33:00","modified_gmt":"2022-11-22T18:33:00","slug":"sp-gives-sa-positive-rating-on-foreign-local-debt","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt","title":{"rendered":"S&P gives SA positive rating on foreign, local debt"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>CREDIT rating agency S&P Global has affirmed South Africa’s long-term foreign and local currency debt ratings at ‘BB-‘ and ‘BB’, respectively, with a positive outlook.<\/p>\n

The ratings agency downgraded South Africa’s government bonds deeper into junk territory with a stable outlook in April 2020 on the economic impact of the Covid-19 pandemic.<\/p>\n

However, in May this year, S&P revised South Africa’s credit rating outlook to positive from stable as favourable terms of trade improved the fiscal trajectory, though it maintained the sub-investment ratings.<\/p>\n

On Friday night, S&P said the government’s economic and fiscal reforms could improve the country’s medium-term growth and debt trajectory.<\/p>\n

S&P said that higher-than-expected tax revenue, relative to its expectations six months ago, will help to reduce the fiscal deficit as a proportion of gross domestic product (GDP).<\/p>\n

\u201cHigher-than-expected government revenue has supported the fiscal position this year, but fiscal pressures remain,\u201d the ratings agency said.<\/p>\n

In his mid-term budget statement delivered last month, finance minister Enoch Godongwana said revenue collection had exceeded projections and that the budget deficit would shrink more quickly than before, with debt stabilising at a lower level.<\/p>\n

\u201cThe gross tax revenue estimate for 2022\/23 has been revised up by N$83,5 billion to N$1,68 trillion. The higher estimate is largely due to improvements in corporate income tax collections, with strong receipts from the finance and manufacturing sectors,\u201d Godongwana had said.<\/p>\n

S&P on Friday said it also sees the low external debt position, flexible currency, and deep domestic capital markets as fundamental credit strengths that should cushion against external rising financing risks.<\/p>\n

In response, the National Treasury on Saturday noted S&P’s decision, saying that it had to balance all the priority needs in its medium-term fiscal strategy.<\/p>\n

\u201cGovernment’s medium-term fiscal strategy prioritises achieving fiscal sustainability by narrowing the budget deficit and stabilising debt; increasing spending on policy priorities such as security and infrastructure, thereby promoting economic growth; and reducing fiscal and economic risks, including through targeted support to key public entities and building fiscal buffers for future shocks,\u201d it said. \u2013 IoL News<\/p>\n

The ratings agency downgraded South Africa’s government bonds deeper into junk territory with a stable outlook in April 2020 on the economic impact of the Covid-19 pandemic.<\/p>\n

However, in May this year, S&P revised South Africa’s credit rating outlook to positive from stable as favourable terms of trade improved the fiscal trajectory, though it maintained the sub-investment ratings.<\/p>\n

On Friday night, S&P said the government’s economic and fiscal reforms could improve the country’s medium-term growth and debt trajectory.<\/p>\n

S&P said that higher-than-expected tax revenue, relative to its expectations six months ago, will help to reduce the fiscal deficit as a proportion of gross domestic product (GDP).<\/p>\n

\u201cHigher-than-expected government revenue has supported the fiscal position this year, but fiscal pressures remain,\u201d the ratings agency said.<\/p>\n

In his mid-term budget statement delivered last month, finance minister Enoch Godongwana said revenue collection had exceeded projections and that the budget deficit would shrink more quickly than before, with debt stabilising at a lower level.<\/p>\n

\u201cThe gross tax revenue estimate for 2022\/23 has been revised up by N$83,5 billion to N$1,68 trillion. The higher estimate is largely due to improvements in corporate income tax collections, with strong receipts from the finance and manufacturing sectors,\u201d Godongwana had said.<\/p>\n

S&P on Friday said it also sees the low external debt position, flexible currency, and deep domestic capital markets as fundamental credit strengths that should cushion against external rising financing risks.<\/p>\n

In response, the National Treasury on Saturday noted S&P’s decision, saying that it had to balance all the priority needs in its medium-term fiscal strategy.<\/p>\n

\u201cGovernment’s medium-term fiscal strategy prioritises achieving fiscal sustainability by narrowing the budget deficit and stabilising debt; increasing spending on policy priorities such as security and infrastructure, thereby promoting economic growth; and reducing fiscal and economic risks, including through targeted support to key public entities and building fiscal buffers for future shocks,\u201d it said.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. CREDIT rating agency S&P Global has affirmed South Africa’s long-term foreign and local currency debt ratings at ‘BB-‘ and ‘BB’, respectively, with a positive outlook. The ratings agency downgraded South Africa’s government bonds deeper into junk territory with a stable outlook in April 2020 on the economic impact of the Covid-19 pandemic. […]<\/p>\n","protected":false},"author":84,"featured_media":34404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-34405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nS&P gives SA positive rating on foreign, local debt - Namibia<\/title>\n<meta name=\"description\" content=\"CREDIT rating agency S&P Global has affirmed South Africa's long-term foreign and local currency debt ratings at 'BB ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P gives SA positive rating on foreign, local debt\" \/>\n<meta property=\"og:description\" content=\"CREDIT rating agency S&P Global has affirmed South Africa's long-term foreign and local currency debt ratings at 'BB ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-22T18:15:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-22T18:33:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"S&P gives SA positive rating on foreign, local debt\",\"datePublished\":\"2022-11-22T18:15:31+00:00\",\"dateModified\":\"2022-11-22T18:33:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt\"},\"wordCount\":703,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt\",\"name\":\"S&P gives SA positive rating on foreign, local debt - Namibia\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg\",\"datePublished\":\"2022-11-22T18:15:31+00:00\",\"dateModified\":\"2022-11-22T18:33:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"CREDIT rating agency S&P Global has affirmed South Africa's long-term foreign and local currency debt ratings at 'BB ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg\",\"width\":750,\"height\":450,\"caption\":\"S&P gives SA positive rating on foreign, local debt\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/namibia\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"S&P gives SA positive rating on foreign, local debt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/\",\"name\":\"Namibia\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"S&P gives SA positive rating on foreign, local debt - Namibia","description":"CREDIT rating agency S&P Global has affirmed South Africa's long-term foreign and local currency debt ratings at 'BB ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt","og_locale":"en_US","og_type":"article","og_title":"S&P gives SA positive rating on foreign, local debt","og_description":"CREDIT rating agency S&P Global has affirmed South Africa's long-term foreign and local currency debt ratings at 'BB ...","og_url":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt","og_site_name":"Namibia","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-11-22T18:15:31+00:00","article_modified_time":"2022-11-22T18:33:00+00:00","og_image":[{"width":750,"height":450,"url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"S&P gives SA positive rating on foreign, local debt","datePublished":"2022-11-22T18:15:31+00:00","dateModified":"2022-11-22T18:33:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt"},"wordCount":703,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg","keywords":["africa press","Africa Press-Namibia","namibia"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt","url":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt","name":"S&P gives SA positive rating on foreign, local debt - Namibia","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg","datePublished":"2022-11-22T18:15:31+00:00","dateModified":"2022-11-22T18:33:00+00:00","author":{"@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"CREDIT rating agency S&P Global has affirmed South Africa's long-term foreign and local currency debt ratings at 'BB ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#primaryimage","url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg","contentUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/11\/postQueueImg_1669128342.97.jpg","width":750,"height":450,"caption":"S&P gives SA positive rating on foreign, local debt"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/sp-gives-sa-positive-rating-on-foreign-local-debt#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/namibia\/"},{"@type":"ListItem","position":2,"name":"S&P gives SA positive rating on foreign, local debt"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/namibia\/#website","url":"https:\/\/www.africa-press.net\/namibia\/","name":"Namibia","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/34405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/comments?post=34405"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/34405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media\/34404"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media?parent=34405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/categories?post=34405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/tags?post=34405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}