KPMG 2020 Budget highligts
The 2020 national budget aims, in the face of the catalogued challenges that the country is going through, to stimulate the domestic economy.
The Minister of Finance, Dr. Bwalya K.E. Ng’andu, in his maiden budget presentation informed the nation that the 2020 budget would continue to propagate the objectives of the Seventh National Development Plan, and austerity measures and key reform areas in the Economic Stabilization and Growth Programme.
These areas will continue to be adopted in the 2020 budget and in the medium term as they aim to: enhance domestic resource mobilization, refocus expenditure, narrow the fiscal deficit, reduce the pace of debt accumulation and dismantle domestic arrears.
The Minister indicated that in an attempt to enhance domestic revenue mobilization, a number of measures will be implemented in the medium term such as: continued modernization and automation of revenue collection processes and provision of Government services; continued roll out of electronic fiscal devices; development of a national policy on avoidance of double taxation; accelerating the implementation of land titling and revaluation of properties; and adjusting fees and fines to cost-reflective levels.
The Minister emphasized that for the budget to achieve its objectives it would require delivery on commitments with discipline, determination and dedication in accordance with national values and principles of ethics, patriotism, national unity and integrity as enshrined in the Constitution. He challenged public and private sectors, civil society and every Zambian to focus on prioritizing building the Zambia they want. He declared, “the time to act is now! Our resolve to do so must be firm.”
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