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Stable credit rating from S&P


National Treasury said the decision by Standard and Poors to retain the country's sovereign debt rating allows it to continue on the current growth trajectory.

The Rating agency kept the country's debt ratings at "BB" and "BB+" respectively, and its sovereign credit rating unchanged at non-investment grade.

Treasury said the administration under President Cyril Ramaphosa was pursuing a series of economic reforms that should help boost the economy from 2019.

It said the stable outlook reflects S&P’s view that the government will pursue a range of economic, social, and fiscal reforms, albeit over a longer period.