Sat, 12 Nov 2016 13:22:26 +0000 A K64.5 billion budget for 2017 was yesterday unveiled by Finance Minister Felix Mutati characterised by difficult decisions aimed at restoring growth and development. And Mr Mutati has announced that Government is in the process of disengaging itself from the process of procuring petroleum products and that by 31st March next year, the process would be undertaken by the private sector to ensure efficiency. Under the theme of “Restoring Fiscal Fitness for Sustained Inclusive Growth and Development”, the budget has been increased by more than K11 billion from 2015 and will be anchored on interventions in agriculture, industrialisation, tourism, and mining. Minister Felix Mutati told Parliament yesterday that Government planned to refinance the budget mainly through domestic revenue collection. Mr Mutati explained that out of the K64.5 billion ─ representing 27.7% of the GDP ─ K42.94 billion would be raised through domestic revenues, K2.23 billion through grants from co-operating […]
