On the 11th of November, 2016, Finance Minister Felix Mutati unveiled a K64.5 Billion 2017 national budget, whose focus is to restore fiscal prudence while maintaining an expansion path. Here are a few notable highlights included in the budget:
Part I: Global and Domestic Economic review
Global Economy
- Global economic growth in 2016 is projected at 3.1%, a rate slightly lower than the 3.2% recorded in 2015. This is on account of lower economic activity in the advanced economies. In the emerging and developing economies, growth is projected to strengthen slightly to 4.2% in 2016 from 4.0% in 201 This is despite lower growth in China. (more…)