2017 Budget to be presented on Nov 11

 

FINANCE Minister Felix Mutati will on 11th November present the National Budget to Parliament. Ministry of Finance head of media and public relations, Chileshe Kandeta said the 2017 national budget will be the first annual plan under the economic stabilisation and recovery programme being developed by the Government. “In the coming days before budget day, the Ministry of Finance will be finalising consultations and then conducting validation, integrity and consistency checks in the proposed policies, programs, activities, and revenue and expenditure measures, “Thereafter, a special purpose team will be assembled and tasked to commence the drafting of the budget speech which shall be presented for consideration by Cabinet before being presented to Parliament,” he said. Recently, the Ministry of Finance announced that the 2017 National Budget would not be presented on the second Friday of October as per custom citing insufficient time for Cabinet to give guidance on policy, program priorities and long term expenditure. The ministry said Part XVI, Public Finance and Budget, Article 202 clause (3) of the Constitution allowed minister of finance to be prepared and laid before the National Assembly, within ninety days of the swearing in of the President, estimates of revenue and expenditure for the Republic for the next financial year. “In this regard, there is a maximum of ninety (90) days following the swearing of the President on Tuesday 13th September, 2016, in which to present the budget to the National Assembly,  “This is sufficient time for Cabinet to give guidance on policy and program priorities for the 2017 National Budget, and for the Medium Term Expenditure Framework (2017-2019),” the ministry said. The ministry also said it was on course with preparations for the 2017 National Budget and the 2017-2019 Medium Term Expenditure Framework (MTE) and that the ministry was confident that all preparatory processes would be completed smoothly.

 

 

Categorized | Business

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