The Minister of Finance, Honourable Felix Mlusu has presented to Parliament a 2020/2021 budget pegged at MK 2.2 trillion representing a 30.6 percent of Gross Domestic Product (GDP).
Mlusu made the statement today in Parliament during his presentation of the 2020/2021 budget statement developed under the theme “Living the Promise.”
The Minister highlighted that the implementation of the 2020/2021 budget will be challenging as government has not been spared by the impact of the Coronavirus pandemic with monthly tax revenue collections dropping by 11 percent compared to the pre-Covid-19 period.
The education sector has been allocated the largest portion of the budget at K384.5 billion which is 21.6 percent of the total budget.
The agriculture sector ranks second with an allocation of K354.8 billion representing a 19.9 percent of the total budget.
K400 million has been allocated to Ministry of Gender, Community Development and Social Welfare for the implementation of the action plan for the protection of people with albinism and a further K100 million has been allocated to the disability fund.
Mlusu said that the government will endeavour to create a condusive environment to jump start the economy and spur growth, generate adequate revenue to finance the budget and deliver quality public services to the nation.
Parliament will go into Cluster Committees to scrutinize the 2020/2021 budget from Monday, 14th September 2020 to Friday, 25th September, 2020.