The Minister of Finance is expected to announce the 2020 national budget on Thursday and here are the budget highlights according to the Herald:
- He is expected to maintain the 2% Intermediated Money Transfer Tax.
- Production goals are expected to be given priority
- Fiscal discipline will be maintained with the 2020 Budget, adjustable upwards by 30% to cope with inflation.
- The minister is expected to ensure that he maintains his primary Budget surpluses and restricts Government borrowing to the capital account
- The Budget is expected to announce measures that promote industry, mining and agriculture.
- The Budget will not announce any measures that will shock the market, but those that seek to grow industrial capacity and safety nets to cater for the vulnerable.
- Measures to address high transport costs will continue, with more Zupco buses set to arrive from South Africa, Belarus and China, while more kombis will be co-opted into the mass urban transportation strategy.
- Subsidies for public transport are to continue to be budgeted and tied to appropriate tax revenue.
- The 2020 Budget is expected to contain measures that ensure the objectives of Transitional Stabilisation Programme
More: The Herald