2015 budget highlights


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


Don't be shellfish... Please SHAREShare on google
Share on twitter
Share on facebook
Share on linkedin
Share on email
Share on print

Like it? Share with your friends!

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.


Your email address will not be published. Required fields are marked *