2015 budget highlights


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Finance Minister, Patrick Chinamasa today announced the 2015 budget. Below are the highlights.

  • Economy to grow 3.2 percent (2014:3.1percent)
  • Inflation to remain below 1 percent in 2014 and subdued in 2015
  • Govt to collect $4.1 billion revenue against expenditure of $4.115 billion
  • Govt to collect $3.93 billion by 2014 year-end
  • 2015 recurrent expenditure seen at 92 percent
  • Employment costs to chew 82 percent ($3.2 billion) of 2014 budget
  • Mining sector to grow by 3.1 percent, ICT by 6.4 percent and Transport by 2.9 percent
  • Exports expected to reach $3.83 billion in 2015
  • Imports seen at $6.15 billion
  • Tax free threshold increased to $300 per month from $250
  • Tax amnesty extended to 15 months from six months
  • Excise duty on cigarettes increased to $20/1 000 sticks from $15/1 000 sticks
  • Excise duty on clear beer reduced to 40 percent from 45 percent
  • Govt to impose tax on imported doughs, buns and bread
  • Corporate tax on exporting companies to be lowered by between 15 and 30 percent
  • Royalties on firms selling to local diamond and cutters polishers to be scrapped
  • Agriculture to grow by 3.4 percent, govt to mobilise $252m for presidential inputs programme
  • Tourism sector to grow by 4.7 percent (2014: 3.9 percent)- The Source

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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