South African may be able to regain an investment-grade credit rating within two years, Finance Minister Enoch Godongwana said.<\/p>\n\n\n\n
The nation obtained a full house of junk ratings in 2020, when Moody\u2019s Ratings downgraded its debt assessment, leaving it without an investment-grade assessment for the first time in 25 years. <\/p>\n\n\n\n
The Moody\u2019s decision added to cuts by Fitch Ratings and S&P Global Ratings in 2017.<\/p>\n\n\n\n
The government is focused on implementing structural reforms to lift South Africa\u2019s potential economic growth rate, Godongwana said in an interview with Reuters at the World Economic Forum in Davos.<\/p>\n\n\n\n
Economic growth in South Africa has averaged less than 1% in the past decade and is predicted at 1.7% this year and 2% next, according to a median estimate of 20 economists in a Bloomberg survey<\/p>\n\n\n\n
Factors expected to boost growth include lower interest rates, planned infrastructure upgrades and the ongoing improved performance of the country\u2019s power, transport and logistics sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance minister Enoch Godongwana says South Africa could crawl its way out of junk status in the next two years.<\/p>\n","protected":false},"author":59,"featured_media":752193,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[17448,2510,1512,1396,11765],"class_list":["post-807712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-enoch-godongwana","tag-fitch","tag-moodys","tag-ratings","tag-sp-global"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/807712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=807712"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/807712\/revisions"}],"predecessor-version":[{"id":807713,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/807712\/revisions\/807713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/752193"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=807712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=807712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=807712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}