#eNCA speak to acting Deliotte chief Africa economist, Hanna Marias. #DStv403

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Following the 2023 Budget Speech by Finance Minister, Enoch Godongwana, RSM Tax Director, Neil Hughes covers the highlights from the speech.

By Ruth Chayinda

Government has proposed to spend almost 177.9-billion kwacha in 2024.

Finance and National Planning Minister SITUMBEKO MUSOKOTWANE says of the proposed budget, 141-billion kwacha will be raised through domestic resources while 3.4 billion kwacha will be from grants.

Dr. MUSOKOTWANE has also proposed to revise Pay As You Earn -PAYE- exemption threshold to K5, 100 from the current K4, 800 in next year's national budget.

He says the proposal is a response to concerns by Zambians that the tax burden is high due to the cost of living.

Presenting the national budget in parliament today, Dr. MUSOKOTWANE said Government has opted to revise PAYE in the midst of tight fiscal space so that relief is given to workers.

And Dr. MUSOKOTWANE has proposed to reduce PAYE from the current 37.5-percent to 37-percent.

The Minister has further allocated 701 million kwacha towards the upgrading and rehabilitation of provincial airports in Mansa, Mbala, Solwezi, Choma and Kasaba Bay.

Dr. MUSOKOTWANE has also allocated 770 million kwacha for the improvement of infrastructure in the tourism sector to attract more tourist arrivals.

And in Local Government, Dr. MUSOKOTWANE has allocated 1.4 billion kwacha for Local Government Equalization Find which will help in the remuneration of Councillors.

Meanwhile, the Economic Sector has been allocated 39.8 billion kwacha.

Of that amount, Eight billion kwacha will go towards the construction of roads while 13 billion kwacha will go to the agriculture, fisheries and livestock sectors.

Dr. MUSOKOTWANE said 8.6 billion kwacha will go towards supporting one million farmers under the Farmer Input Support Programme.

Zambia's finance minister has presented a 64.5 billion kwacha ($6.6 billion) budget to parliament.

The 2017 budget contains proposed measures aimed at curbing the country's budget deficit at a time when commodity price slumps have forced mine closures in the country as well as caused a rise in unemployment and food prices.

Finance Minister Felix Mutati told parliament that Zambia would cut its fiscal deficit to 7 percent of Gross Domestic Product (GDP) in 2017 from the 2016 projection of 10 p…
READ MORE : http://[a]www.africanews.com%2F2016%2F11%2F12%2Fzambia-s-finance-minister-presents-66bn-budget-to-parliament[/a]

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President Cyril Ramaphosa, in his State of the Nation Address on 9 February, announced government plans to address South Africa’s energy crisis and prevailing socio-economic challenges. As such, on Wednesday, 22 February, the Minister of Finance, Mr Enoch Godongwana, will provide details of spending and revenue collection proposals to implement these plans. Minister Godongwana will deliver the 2023 Budget Speech to the National Assembly in the Cape Town City Hall at 14.00.

The Minister will also introduce the Appropriation Bill and table the Division of Revenue Bill to Parliament on the day.

Finance Minister Matia Kasaija has presented a 48.1 trillion shilling budget for the 2022/23 financial year, to the country.

With domestic revenue projected at 30.7 trillion shillings, the budget is prioritising security, education, Health, Parish Development Model and the enhancement of salaries for government scientists.


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The Ecowas Parliament has adopted the 2023 budget for Ecowas
A total budget of 418 million, 072 thousand, 498 UA has been adopted by the Ecowas Parliament after 2 days of rigorous considerations

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The Ecowas Parliament has adopted the 2023 budget for Ecowas
A total budget of 418 million, 072 thousand, 498 UA has been adopted by the Ecowas Parliament after 2 days of rigorous considerations

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Sri Lankan President Ranil Wickremesinghe will present his first budget in Parliament later today as the country reels under its worst financial crisis since its independence.

#Srilankabudget #budget2023 #srilankaparliament


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After two challenging years and an economy that is struggling to recover, the Finance Minister had some tough decisions to make when for the 2023 National Budget.

This webinar unpacked some of the key tax highlights from the Budget Speech, as well as the considerations taken by government.

THE SPEAKERS

Dieter Schulze
Dieter is the CEO of RSM South Africa and Service Line Leader for our Tax division.

Chris Axelson
Chris is the Chief Director: Economic Tax Analysis at National Treasury of South Africa.

Finance Minister Enoch Godongwana has announced a slew of tax relief measures to help struggling consumers and businesses affected by rolling blackouts. The measures include tax breaks for solar installations and relief against high fuel prices. However, government plans to raise more taxes from sin tax with big increases in tobacco products and alcoholic beverages. Godongwana was tabling his 2023 budget proposal in Parliament this afternoon.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.

All eyes are on this afternoon's mid-term budget speech by Finance Minister Enoch Godongwana. Government spending has surpassed revenue by hundreds of billions of rands this year. Economists say this may result in Treasury having to borrow more to avoid a debt blowout. eNCA's Rofhiwa Madzena is in Parliament ahead of the speech. #dstv403

State-owned enterprises have received massive bailouts. Eskom leads the pack with over R250-billion in debt relief. There's also tax relief and rebates for households and businesses. But, there was little pie left for the poorest of the poor. There's no increase for the R350 SRD grant. And, social grants will get below-inflation increases. eNCA senior reporter, Aviwe Mtila joins us now for more. #dstv403

The medium-term budget policy statement was tabled in parliament by finance minister Enoch Godongwana on Wednesday November 1 2023.

#SouthAfrica #News
www.timeslive.co.za

Investment in the youth is critical for a nation. This was the sentiment shared by Finance Minister, Enoch Godongwana. The minister was speaking at the Nedbank and Old Mutual budget competition last night. He says a country without skills is doomed to fail.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.

The National Education and Health Workers Union (Nehawu) together with Cosatu and other organised labour organisations gathered in protest ahead of the Budget Speech. This is against the backdrop of wage negotiations that collapsed last year and salary increases of 3% that were implemented unilaterally by the government. The organisations say government clearly demonstrated its disregard for the stipulated collective bargaining agreements.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.

Public Sector workers have launched demonstrations in Cape Town and Pretoria ahead of the budget speech by finance minister Enoch Godongwana. This is as they keenly look to see if the finance minister will provide well-needed relief for workers who have threatened to strike.
Public sector unions will serve the employer with a 7-day notice to embark on a full-blown strike action today. They want a 10% wage increase backdated to 2022 after abandoning a new process of negotiations for the year 2023. For more, we cross over to our Economics Reporter Katlego Legodi.

For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.