Officials say pro-business Democratic Alliance and senior figures in African National Congress objected to VAT rise

South African Finance Minister Enoch Godongwana presented highlights of his upcoming budget to colleagues two weeks ago, but skipped a crucial detail to stop it from leaking — triggering a major fallout in the nation’s coalition government.

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.

South Africa’s ruling coalition, made up primarily of the African National Congress and the Democratic Alliance, is showing signs of a possible crack in its government of national unity.

The South African government's annual presentation of its budget was abruptly canceled Wednesday and rescheduled for next month over a dispute among parties in the governing coalition.