Zimbabwe: 2018 Budget to Focus On Fiscal Consolidation . . . As Deficit Is Set to Rise to $1,8 Billion in December

10 November 2017

Finace and Economic Development Minister Dr Ignatius Chombo says the 2017 national budget deficit could rise to $1,82 billion from $400 million largely driven by the cumulative expenditures that are set to close the year at $5,6 billion. Speaking yesterday during the 2018 Parliamentary pre-budget seminar presently underway here, Dr Chombo stressed the need for fiscal discipline saying the budget deficit was largely financed through Treasury Bills and recourse to overdraft at the Reserve Bank.

"In the outlook to December, cumulative expenditures are projected to reach $5,582 billion, up from the budgeted $4,1 billion. This would raise the budget deficit for the full year from $400 million to $1,82 billion," he told delegates.

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