# National Treasury says global rating agency Standard and Poor’s latest outlook is an encouraging signal that South Africa has the potential to lift its economic growth rate higher, and reduce public debt faster. S&P affirmed the country’s long-term foreign currency sovereign credit rating at ‘BB’ and local currency rating at ‘BB+’, maintaining a positive outlook. Treasury’s director-general, Duncan Pieterse, says government has made progress towards restoring the health of South Africa’s public finances and its ability to continue despite geopolitical upheavals.
National Treasury says government has made progress in restoring the health of South Africa’s public finances