South Africa Set to Tighten Budget Rules as Pressures From Iran War Mount

South African Finance Minister Enoch Godongwana is poised to unveil a fiscal anchor to entrench progress made in repairing the nation’s public finances as the Iran war puts those gains to the test. In his medium-term budget update to lawmakers at 2 p.m.

in Cape Town on Wednesday, Godongwana is widely expected to outline a framework to keep government debt on a sustainable path. The plan would seek to turn stronger-than-expected revenue, contained spending and growing primary surpluses into lasting fiscal gains.