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.

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 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,

The African National Congress and Democratic Alliance disagree over proposed VAT increases, casting doubt on the ruling coalition's ability to govern.

The leader of the Democratic Alliance, the second-largest party in South Africa’s coalition government, will brief the media about its stance on the budget process amid reports the Treasury is about to raise taxes.