The theme of the 2017 National Budget is 'Responsible fiscal consolidation for future growth and development' and is set at K13,349.5 million against projected revenue of K11,473.1 million.
The 2017 Budget is expected to result in a net borrowing position of 2.5% of GDP and a debt-to-GDP ratio of around 28.8 per cent in 2017 and 2018, declining thereafter to 27.0 per cent in 2021.
The Budget is set within the Government’s overarching development frameworks, including the Vision 2050, the Development Strategic Plan (2010 – 2030), the Medium Term Development Plan 2 (MTDP2) (2016-2017), the Strategy for Responsible Sustainable Development (StaRS2017), and the Fiscal Responsibility Act 2006 (FRA). It has been framed amidst a relatively weak global economy still recovering from low commodity prices and lower than anticipated growth of the domestic economy.
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