BUDGET BULLETIN 2020
15 November 2019
2020 BUDGET OVERVIEW
This publication provides a snapshot of the tax and related measures contained in the 2019/2020 Budget speech presented by Hon. Professor Mthuli Ncube, Minister of Finance & Economic Development on 14th November 2019.
The theme of the 2020 National Budget is, ‘Gearing for Higher Productivity, Growth and Job Creation’. The Budget is targeted at growth stimulation and employment generation. It has emphasis on reviving key sectors of the economy through promotion of production-oriented investment and productivity.
Revenue collections for 2020 are estimated at ZWL$58.6 billion while Budget expenditure is estimated at ZWL63.6 billion, giving a budget deficit of ZWL$5 Billion which is about 5% of GDP.
The Budget largely prioritizes growth and productivity, job creation, competitiveness, and strong, sustainable and shared development.
We advise you to seek our professional advice before making any decision regarding the tax changes in this bulletin.