What to expect from the budget update

• South African Finance Minister Enoch Godongwana is expected to outline a framework to keep government debt on a sustainable path.
• The framework would arrive at a turning point for South Africa’s public finances, with economists predicting gross debt declining to 77.5% of GDP this fiscal year.
• The improving fiscal picture is expected to be rewarded with credit-rating upgrades by next year, according to most economists surveyed by Bloomberg.