2016 Budget Set At $4 Billion

Zimbabwe’s budget for 2016 will be set at $4 billion after Minister of Finance, Patrick Chinamasa made the announcement at the budget presentation in Parliament yesterday.

What Chinamasa didn’t do, however, was to propose measures in which the government can tame their wage liabilities.

Chinamasa did say that he expects Zimbabwe’s growth rate to rise to 2.7% next year; which is up from this year’s 1.5%.

“…[sic] I propose a budget proposal of $4 billion in 2016 against projected revenues of $3,85 billion which will result in a deficit of $150 million or minus 1,1 per cent of GDP that would be funded largely through domestic borrowings…The 2016 recurrent expenditure budget is expected at $3,685 billion representing 92,1 per cent of the budget,” Chinamasa said.