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Wednesday, 2 September 2015

Zambia MTEF 2016-18 and 2016 Budget

The Government has released the Medium Term Expenditure Framework (MTEF) for 2016 - 2018 and the outline for the 2016 budget. This is essentially the PF plan for re-election as this will be last budget outline before the elections in 2016 [actual budget due next month]. The document certainly merits close study, but sadly a quickly glance through the MTEF already shows that the assumptions on copper prices and growth looks rather outdated. Shockingly although wages already account for more than 52% of tax revenues, government plans to increase this even more in the 2016 budget at a time when the economy appears to be life support.All on a quick glance of course!

The above MTEF release is accompanied by the statement from the Treasury embedded below.

Chola Mukanga Copyright © Zambian Economist 2015

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