South Africa's Finance Minister Enoch Godongwana has been forced to postpone the unveiling of the national budget following sharp disagreements within the coalition government.Coalition partners derailed his budget after opposing his plan to raise value-added-tax (VAT),

South Africa’s budget announcement by the finance minister has been abruptly canceled and rescheduled for next month over a dispute among parties in the governing coalition.

South Africa's national budget was postponed on Wednesday because the two biggest parties in the ruling coalition disagreed over raising value-added tax, an unprecedented delay that caused the rand and government bonds to fall.

The unprecedented delay in the presentation of South Africa’s budget shouldn’t be seen as a crisis and wouldn’t derail the country’s 10-party ruling alliance, President Cyril Ramaphosa said.

South Africa’s finance minister is under pressure to chart an economic course that navigates the hazards unleashed by Donald Trump’s trade war.

Africa's largest economy has faced a burgeoning debt and stagnating economy that threaten to derail the country's coalition government.

South Africa's rand edged lower on Tuesday against a buoyant dollar, ahead of a highly anticipated national budget speech.

The postponement of South Africa’s national budget vote was as much about keeping the national coalition together as it was about the unity of the African National Congress, with the finance minister now going back to the drawing board.

For the time being, South Africans can breathe a little easier, as the 2% increase would have a short-term negative impact, particularly because VAT applies to most goods and services, raising their costs and putting additional strain on consumers' wallets, he adds.

Officials say pro-business Democratic Alliance and senior figures in African National Congress objected to VAT rise