K14.2b deficit budget announced

The 2016 National Budget of K14.2 billion, another deficit budget has been tabled in parliament but failed to pass as the opposition moved a motion to adjourn parliament for 7 days to study the books. 84 voted against the adjournment while 12 voted for it. The house became rowdy as a result and it is hoped to be passed this evening.

Meantime at the press lock up, Treasury Minister Patrick Pruaitch announced that the budget was framed amidst weak global economy, slower economic growth that has been constrained by the El Nino and low commodity prices. 

Although a lower budget has been announced compared to this year, key government priorities are not affected.

Free Education for our children, free primary health care, agriculture and SME’s are its core programs that will continue to receive government support.

National Planning Minister Charles Abel supported his counterpart minister in stating that the government's priorities were captured in the money plan and despite another deficit, it is lowest on record which translates into a deficit of K2, 029.7 million.