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SA’s investment grade could be restored in 18-24 months – Gigaba

Budget feedback from ratings agencies ‘positive’.

South Africa expects it could take 18 to 24 months for S&P Global and Fitch to return the country’s credit rating to investment grade, finance minister Malusi Gigaba told Reuters on Wednesday in an interview.

Gigaba said Treasury had “very positive” discussions with ratings agencies on the 2018 budget he earlier presented to parliament, in which the government raised value-added tax for the first time in 25 years. 

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