The Minister of Finance and Development Planning, Hon. Kenneth Matambo presented the 2017/18 Budget Speech to Parliament on 7 February 2017.

  • The country’s economy is expected to grow by 4.2% in 2017, in comparison to the 2.9% recorded in 2016.
  • As part of the Eleventh National Development Plan (NDP 11) which was approved in December 2016, the focus will be on the following areas:
    • Development of diversified sources of economic growth and revenue
    • Human capital development
    • Social development
    • Sustainable use of natural resources
    • Consolidation of good governance and strengthening of national security
    • Monitoring and evaluation of government programs
  • Government is in the process of developing a Tax Administration Act to simplify the Income Tax Act and Value Added Tax Act.
  • Income Tax rates will remain unchanged.


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