# Credit rating agency Moody’s views South Africa’s Medium-Term Budget Policy Statement, tabled by minister of Finance Enoch Godongwana in Parliament last week, as positive for the country’s credit profile. It cited tighter monetary policy and continued fiscal consolidation, despite higher oil prices and weaker nominal gross domestic product, which affected fiscal ratios. Moody’s expects the country’s debt to reach 84.9-percent of GDP by 2028 from 86.8-percent of GDP last year. It highlighted that debt affordability remains weak, with interest absorbing 18.8-percent of general government revenue in fiscal 2025.
Moody’s views the medium-term budget as positive for South Africa’s credit profile