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.

South Africa has entered unchartered waters following deep divisions in the coalition government over the national budget that has finally been tabled after a month-long delay. This is the view of analysts after Finance Minister Enoch Godongwana's budget drew a backlash from various quarters,

South Africa's finance minister unveiled Wednesday a budget with a smaller increase in value-added tax than previously proposed, but it was immediately rejected by a key party in the unity government.

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.