Fitch Ratings upgrade of SA credit rating not surprising: Economist

South Africa has received its first sovereign credit rating upgrade from Fitch Ratings Agency, for the first time in over two decades.

The decision to upgrade South Africa's long-term foreign and local currency credit rating, taking it two levels below investment grade with a stable outlook, is noted as a show of confidence in South Africa's fiscal management trajectory.

The Agency cited on-going structural reforms and progress made in fiscal consolidation, despite external shocks and weak economic growth.

Government has welcomed the upgrate and reaffirmed its committment to maintaining sound public finance and reforms that drive inclusive growth.

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