South Africa Budget Delay Amid Political Disagreement

South Africa's national budget presentation has been unexpectedly delayed due to disagreements within the ruling coalition, particularly over a proposed VAT hike. The ruling African National Congress (ANC), lacking a parliamentary majority after recent elections, is unable to move forward without support from coalition partners, especially the Democratic Alliance (DA), which opposes the VAT increase. This political standoff has heightened concerns about potential disruptions in government operations, although President Cyril Ramaphosa has downplayed the situation as non-crisis. The delay has already affected the local currency, which dropped by 1% against the dollar following the announcement. Observers are closely monitoring the situation as it unfolds, especially with the DA set to announce its position on the budgetary process in a forthcoming press conference.