Finance services group, Old Mutual, has said that South Africa could see its credit rating upgraded from “stable” to “positive” within the next six to twelve months.
This is according to Old Mutual’s chief economist, Johan Els.
Els also said that this year could be South Africa’s best year – economically speaking – in over a decade.
He said he estimated that the economy would grow by 2.2% this year, higher than South Africa’s average economic growth over the last fifteen years or so.
He said this improvement was because of diminishing structural constraints, a fiscal consolidation drive, and growing private sector involvement in the economy.