K14.7b budget handed down

​The National Government today handed down its money plan for 2018 with a whooping budget of K14, 717.9 billion, an increase of K2 billion from the 2017 amount of K12.9 billion.

Treasurer and Deputy Prime Minister Charles Abel when announcing the budget said the 2018 Budget forecasts an increase in non-tax revenue, through transferring unused balances from revenue collecting agencies to the Consolidated Revenue Fund.

The Budget comprises of K13, 099.4 million in Government funding, K593.9 million in loans and K1,024.6 million in grants with more focus on Agriculture, Education, Health, Tourism, Small to Medium Enterprise

With the theme "Review our Priorities, Refocus our Energies and Reinforce our Strength", Treasurer Abel handed down the K14.7b National Budget for 2018.

Abel said with 2018 Budget, great emphasis is given to revenue reforms to arrest the general decline in Government revenue and lift it decisively in 2018 to fund priority expenditures in education, health, infrastructure, agriculture, tourism and SMEs.

He added that the Government will continue to invest in key national infrastructures in 2018.

"Promoting structural reforms is another key policy area of this Government.

"This is focused on reducing the costs of trade, lowering the cost of services such as power and communications, and encouraging local food production to replace imports and building a more resilient economy with less reliance on the extractive industry."


Freddy Mou
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