Reported 2 days ago
The South African government has delayed its annual budget speech due to disagreements within the coalition government over proposed tax increases, a decision that has caused the rand and government bonds to weaken. The budget, originally scheduled for presentation by Finance Minister Enoch Godongwana, will now take place on March 12. The Democratic Alliance, the second-largest party, opposes plans to raise the value-added tax, highlighting tensions within the 10-party coalition formed after the African National Congress lost its parliamentary majority last year.
Source: YAHOO