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Budget speech cancellation will delay policies, impact markets

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Parties under South Africa's government of national unity (GNU) disagreed on the looming tax increases, with the DA saying it was opposed to an increase in Value Added Tax.
The cancellation of the South African budget speech by Finance Minister Enoch Godongwana, due to a national shutdown, has raised concerns about the delay in policy announcements and its potential impact on financial markets. Originally scheduled for February 21, 2024, the speech was intended to outline the government's fiscal strategy, including spending plans, tax proposals, and economic forecasts. The delay could lead to uncertainty in financial markets, as investors and stakeholders were anticipating guidance on economic policy, particularly in light of ongoing issues like energy crises and economic recovery efforts. This unexpected change has left market participants without crucial information, potentially affecting investment decisions and economic stability.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/budget-speech-cancellation-will-delay-policies-impact-markets/ar-AA1zmGAH ]