Government has postponed the presentation of 2017 National Budget by the Minister of Finance to Parliament. The Budget, which was scheduled to be presented to Parliament on Friday, October 14, 2016 has been postponed to a later date yet to be announced.
According to a Press statement signed by the Ministry of Finance Spokesperson Chileshe Kandeta, government is taking it’s time in consulting on relevant stakeholders in helping the Ministry formulating economical recovery and stabilizing polices.
“The 2017 National Budget will, therefore, not be presented this Friday, but on a date to be announced after exhausting consultations with stakeholders, Ministries, Provinces, and Spending Agencies in formulating economic recovery and stabilisation policies which will be announced in the 2017 budget address,” Kandeta said in a statement.
He said to facilitate revenue related consultations, the Ministry, several months ago, issued an invitation for stakeholders, interest groups and ordinary members of the public to submit proposals for Tax and Non-Tax Revenue Policy review.
“The Ministry of Finance is focused on preparing a budget which will be anchored on economic recovery and stabilization. We are, therefore, working very hard to develop an expenditure framework for the next three years going forward,” the statement read in part.
Meanwhile the Minister of Finance Felix Mutati according to a statement said the nation will be appraised when the budget will be presented but they are determined to deliver a budget that will be drawn from a widely consultative process.
He said according to Part XVI, Public Finance and Budget, Article 202 clause (3) of the Constitution.
“In a year where a general election is held, the Minister responsible for finance shall cause 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 budget and for the medium term, ” the Kandeta said.