South Africa's finance minister fails to unveil budget

South Africa's finance minister fails to unveil budget after tax row
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.
South African budget delay over VAT hike shows cracks in 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.
South Africa abruptly cancels budget speech over dispute in governing coalition
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 finance minister wanted to raise VAT: the pros and cons of a tricky tax
The reason for the abrupt cancellation was the failure of the minister to get cabinet approval for the proposal to raise value added tax (VAT) from 15% to 17%. VAT is the second biggest contributor to tax collection after personal income tax, followed by corporate taxes.
South African rand slides after national budget postponed
South Africa's rand weakened on Wednesday, after the national budget was postponed until further notice due to disagreements within the coalition government. At 1402 GMT, the rand traded at 18.57 against the dollar,
South Africa Budget Unraveled After a Key Detail Was Kept Secret
South African Finance Minister Enoch Godongwana presented highlights of his upcoming budget to colleagues two weeks ago, but skipped a crucial detail to stop it from leaking — triggering a major fallout in the nation’s coalition government.
South Africa’s Budget delay not a crisis, Ramaphosa says
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 due to present pivotal budget
Africa's largest economy has faced a burgeoning debt and stagnating economy that threaten to derail the country's coalition government.
South African rand steady ahead of national budget
South Africa's rand was little changed early on Wednesday, ahead of the 2025 national budget speech to be delivered by the finance minister.At 0712 GMT, the rand traded at 18.4050 against the dollar,
South Africa: Budget bust gives governing coalition a second chance
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.
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