Govt commits to dismantling arreas

Felix Mutati – Finance Minister

Finance Minister Felix Mutati has disclosed that total domestic revenues and grants are projected to grow from K47.9 billion in 2018 to K65.9 billion in 2020.

The Finance Minister says this is an average of K56.6 billion per annum over the medium term.

Mr. Mutati says over the medium term, government will decelerate external and domestic financing with the fiscal deficit not exceeding 3 percent of GDP by 2020.

He says in this regard, government proposes to access financing of up to K40.3 billion over the medium term.

He adds that of this amount, 77.9 percent will be from domestic financing and the balance from external sources.

And highlighting the expenditure policy and strategy, Mr. Mutati says government will prioritize the dismantling of arrears in the allocation of the resources in order to inject working capital back into the private sector and move public finances to a more sustainable trajectory.