South Africa's budget may be tweaked further as more talks between political parties will try to overcome differences over a contentious plan to raise value-added tax, the country's finance minister told Reuters.

Finance Minister Enoch Godongwana delivered the 2025 National Budget Speech on Wednesday (12 March). The budget addressed several key points, including the country’s current economic status, growth projections, substantial debt servicing costs, proposed increases in VAT and sin taxes, and the continuation of the social relief grant.

Finance Minster Enoch Godongwana Wednesday tabled his budget for the for the 2025/2026 financial year, a month after it was postponed following a fall-out with the ANC’s biggest coalition partner over value-added tax hikes.

South Africa's National Treasury on Wednesday proposed a smaller hike in value-added tax in a revised budget aimed at smoothing divisions in the ruling coalition, but uncertainty remained over whether it would get the support in parliament to pass.

South African Finance Minister Enoch Godongwana may have to make changes to the national budget after parties that control more than half the seats in parliament rejected his plans to raise taxes.

South Africa's rand weakened on Thursday as the dollar recovered some ground after recent losses, a day after South Africa's national budget was tabled before lawmakers and met with resistance. At 1504 GMT,

South Africa's finance minister unveiled Wednesday a budget with a smaller increase in value-added tax than previously proposed, but the move was still rejected by trade unions who say any rise in taxes that will have a negative impact on the country’s poorest is unacceptable.