South Africa State Debt to Stabilize This Year, Moody’s Says

South Africa’s government debt will stabilize at 48 percent this year as the government undertook to keep to its spending targets, according to Moody’s Investors Service.

“The recent budget provided further assurance of continuity in macroeconomic policy and showed that the South African Treasury is no longer relying on a recovery of growth to bring down deficits in the future,” Moody’s said in an e-mailed statement on Wednesday.