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,

B udget announcements are rarely dramatic events in South Africa. But the statement on March 12th by Enoch Godongwana, the finance minister, could be the most consequential since the end of white rule in 1994.

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.

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 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 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 extended its losses early on Thursday before manufacturing and mining data releases, a day after the national budget was tabled before lawmakers and met with resistance.