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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