Goldman Sachs Expects South Africa Ratings Upgrade This Week Following Budget Update

Goldman Sachs expects South Africa's sovereign credit rating to be upgraded by S&P Global Ratings this week, following the country's budget update. The rating upgrade would be a significant milestone, improving sentiment and signaling confidence in South Africa's fiscal consolidation efforts. The National Treasury is expected to meet or beat its main fiscal deficit forecast, which would meet rating agencies' requirements for an upgrade.