South Africa’s Finance Minister, Enoch Godongwana, postponed the national budget presentation due to disagreements within the coalition government.
The controversy arose over a proposed VAT increase from 15% to 17%, which the Democratic Alliance (DA) and other coalition partners strongly opposed, citing economic hardship. The postponement caused market instability, leading to a sharp depreciation of the currency.
While the Economic Freedom Fighters (EFF) criticized the delay as a sign of weak governance, the DA celebrated it as a victory, advocating for a more growth-friendly budget. The revised budget is now set to be presented on March 12.
