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.

Industry leaders express hope that the upcoming 2025 Budget Speech will address the pressing challenges facing South Africa's tourism and hospitality sectors, which are essential for economic recovery and job creation.

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.