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GDP Rebasing a Positive for Credit Agencies - Debt:GDP Improves

SOUTH AFRICA

LOCAL NEWS

  • Economist says that SA's recent GDP revision to make the economy 11% larger is a positive development for the country's sovereign rating and outlook.
    • The revision means debt:GDP falls below the 80% mark through 2022-2024, when markets were concerned it would reach 87.3% by 2024 prior.
    • This new reading, however, still shows rising debt and assumes no additional borrowing – which could be subject to revision
  • First batch of R350 social relief distress grants have been paid according to SASSA and will continue until March 2022 – aimed at assisting those impacted by looting in KZN & Gauteng. SASSA notes 10m people have made requests
  • ANC asks electoral court to reopen candidate registration, citing glitches in the website as part of the reason many candidates were rejected or were registered in incorrect wards.
    • ANC will present the IEC with papers for an extended deadline today to 30 Aug
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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