There is no doubting Finance Minister Pravin Gordhan’s determination to navigate South Africa through the stormy waters of the upcoming credit-rating reviews. However, he has also made it clear that there is no single junk-avoidance magic bullet, with the Budget comprising but one component. The main outstanding matters relate to whether South Africa can deliver a credible growth-recovery plan and whether that plan – and Gordhan himself – will have the political cover necessary to guarantee implementation.