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National Budget 2018

16 January 2018

The Finance Minister, Honourable Patrick Chinamasa presented the 2018 National Budget Statement to the Parliament of Zimbabwe on the 7th of December 2017, under the theme “Consolidating Economic Development and Transformation through Domestic Resource Mobilisation and Utilisation” The policy measures and interventions enunciated in the 2018 Budget seek to re-orient the Budget towards support for developmental programmes and projects, as well as those centred on poverty alleviation. Furthermore, drawing from the macro-economic framework, the 2018 Budget also calls for adherence to fiscal anchors for the containment of the Budget deficit to sustainable levels. Complementary measures aimed at transforming the business environment and stimulating production, as well as curbing corruption, and addressing rampant rent-seeking behaviours, and market indiscipline, are also part of the Budget. The budget proposals are still to be enacted into law. We advise clients to seek our professional advice before making any decisions regarding the tax proposals in this bulletin.