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

South Africa's national budget was postponed on Wednesday because the two biggest parties in the ruling coalition disagreed over raising value-added tax, an unprecedented delay that caused the rand and government bonds to fall.

Africa's largest economy has faced a burgeoning debt and stagnating economy that threaten to derail the country's coalition government.