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MoF to announce budget announcement date

The Ministry of Finance has disclosed that the date for the Budget Presentation to parliament by Minster of Finance Margaret Mwanakatwe will be announced by the end of the week.

Ministry of Finance Head of Public Relations Chileshe Kandeta tells Money FM News via telephone that the ministry will be able to inform the public on the set dates for the announcement of the 2019 national budget.

Earlier this month, the ministry announced that it plans to attain an average annual Gross Domestic Product (GDP) growth rate of at least 4 percent in view of the austerity measures and in an effort to maintain a stable and resilient economy.

The government, thorough the Ministry of Finance, also plans to sustain inflation within the range of 6 to 8 percent.

This was contained in the 2019 – 2021 Medium Term Expenditure Framework (MTEF) Green Paper obtained by Money FM News, the document that outlines the Government’s intended policy direction over the next three years.

Ministry of Finance Acting Secretary to the Treasury Dr. Dick Sichembe said the government further plans to raise international reserves to at least 4 months of import cover by 2021.

Dr. Sichembe stated that the government, through his ministry, will also increase domestic revenue to not less than 19 percent of GDP by 2021.

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