Budget delay 'not a crisis' – Ramaphosa
President Cyril Ramaphosa has sought to calm fears following the postponement of the budget speech.
Speaking to the media on the sidelines of the G20 Foreign Ministers' Meeting at Nasrec, Ramaphosa addressed concerns over the delay.
Finance Minister Enoch Godongwana was initially set to deliver the speech on Wednesday, but it has now been postponed to 12 March.
The delay follows disagreements within the Government of National Unity over a proposed 2% increase in VAT to 17%.
Ramaphosa dismissed concerns that budget disagreements could collapse the Government of National Unity.
He described the situation "as a challenge, not a crisis".
"Even in more mature democracies, budget hiccups and mini-crises are common. When they occur, leaders must come together, resolve issues, and build consensus.
"What happened yesterday is, in many ways, a sign of our own democracy maturing. Some have called it democracy in action, and I would agree.
"There are valuable lessons for all of us in the process that unfolded. It's important to distinguish between how events played out and the substance of what was ultimately presented to the nation," he said.
He stressed that the decision to postpone the budget was made by the Cabinet and was not imposed by any single party.
"And if anyone is alarmed, I’d say there’s no crisis—this is not a fatal fallout," he said.
Ramaphosa added that the delay reflects the maturity of South Africa’s democracy, noting that many other countries have faced similar challenges.
"The government of national unity remains intact and will continue its work. We will return to the drawing board to find common ground.
"We've faced several near crises that threatened the unity government, but this is not one of them—it’s merely a hurdle we are prepared to overcome.
"A new date has already been set for the budget presentation on March 12. If you look globally, budget disagreements have led to the collapse of governments.
"A recent example is Germany, where a coalition government fell apart over budget disputes, forcing the country into new elections. That is not the case here."
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