Government has come up with a provisional budget pegged at about MK723 Billion, following the end of the financial year before the beginning of the new financial year which starts on the 1st of July. The new Minister of Finance Felix Mlusu has said in the budget, wages and salaries have been put at MK166 billion re-presenting 36.6 percent, fertilizer has been reduced to MK4,400.
He stressed that electronic cards to be used when purchasing fertilizer, a Tax free band has been increased from MK 45,000 to MK100,000 among other issues.
He also said Admarc will be allowed to borrow from commercial banks. Government has come up with a provisional budget pegged at about MK723 Billion, following the end of the financial year before the beginning of the new financial year which starts on the 1st of July.
Meanwhile Former Minister of Finance Joseph Mwanamvekha has said he has worked with the current Minister of Finance Felix Mlusu in the
private sector and knows him as a man of integrity but finds the provisional budget very unrealistic. He also says the DPP will return to power in 2025.
