Budget highlights

Source: Budget highlights -Newsday Zimbabwe

  • Expenditures in 2024 projected at ZWL$58,2 trillion (19,8% of GDP)
  • Total revenue collections in 2024 are estimated at ZWL$53,9 trillion, (18,3% of GDP), broken down as ZWL$ 51,2 trillion tax revenue and ZWL 2,7 trillion non-tax revenue
  • The total budget financing gap amounts to ZWL$9,2 trillion
  • Economy to grow by 3,5% down from the projected 5,5%
  • Tax-free threshold raised to ZWL$750K per month with effect from January 1
  • A US$0,02 tax per gramme of sugar contained in beverage, except water introduced
  • Central bank will target a month-on-month inflation rate of less than 3% throughout 2024
  • A 1% wealth tax to be levied on market values of residential properties with a minimum value of US$100 000
  • Exports projected to remain on the increase sustained by growth in output from lithium, coke and tobacco to US$7,7 billion in 2024
  • Current account surplus is projected to narrow to US$204,5 million next year from US$224,4 million
  • Annual inflation expected to close 2023 at slightly below 20%. In 2024, annual inflation is anticipated to end the year at between 10% to 20%

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