S&P raises South Africa's outlook to stable.

By bne IntelliNews January 26, 2011
International ratings agency Standard and Poor's (S&P) upgraded South Africa's outlook to stable from negative, news portal Fin24.com reported. The stable outlook reflects our expectation that South Africa's external balance sheet will remain manageable, despite volatile portfolio flows, and that fiscal deficits will gradually reduce over the next few years, the agency said. According to S&P, the South African government is expected to remain committed to stabilising debt levels at slightly more than 40% of GDP. S&P expects the country's GDP to increase by 3% to 4% over the next few years.

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