‘Bad forecasting’ puts grade ratings at risk

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SA’s fiscal position, which has already deteriorated so much that the country faces the possibility of losing its remaining investment-grade rating, might be worse, the Treasury says. Tax policy leader for PwC – one of the world’s largest auditing firms – Kyle Mandy, said growth and revenue projections underpinning the government’s predictions where debt would peak might not be credible as the Treasury had consistently missed its forecasts since the 2015 fiscal year.

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