South Africa’s Democratic Alliance (DA) party said the 2025 budget was postponed on Wednesday due to its opposition to a 2-percentage-point increase in value-added tax (VAT) proposed by the African National Congress (ANC).

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.

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 edged lower on Tuesday against a buoyant dollar, ahead of a highly anticipated national budget speech.