2023 Budget Strategy paper launched

2023 Budget Strategy paper launched

Pretty Manyewe

Ministry of Finance and Economic Development has released the annual Budget Strategy Paper ahead of the 2023 National Budget preparations.

The Budget Strategy Paper is issued annually to guide the Budget consultations and other processes for the forthcoming year. It is a strategic policy document that outlines the forthcoming proposed budget priorities after taking into account the macro-economic conditions in the country.

According to a statement in the Post Cabinet Briefing issued yesterday, the 2023 Budget Strategy Paper is running under the theme “Accelerating Economic Transformation”.

“The 2023 Budget Strategy Paper will, accordingly, facilitate public, stakeholder and Parliamentary consultations and engagements on policy priorities for the 2023 National Budget, thereby enabling holistic responses to a complex global and domestic economic environment.”
“Given that the year 2023 will mark the mid-point in the implementation of the National Development Strategy 1: 2021-2025 (NDS 1), the 2023 Budget allows stakeholders to review progress while giving the impetus required to attain the set objectives,” said Minister of ICT, Postal and Courier Services, Jenfan Muswere.

The Strategy Paper is meant to improve transparency in the preparation of the National Budget and forms the basis for a detailed process that culminates in the presentation and approval of the forthcoming year’s Budget by Parliament.

“The Strategy Paper gives an overview of the fiscal policy thrust for 2023 and outlines the Proposed Strategic Priorities for the 2023 Budget. The proposed priorities will draw from the 14 Thematic Areas of NDS 1, while taking into account the prevailing global and domestic environment, risks and the attendant emerging issues such as the 2023 electoral processes.”

“Accordingly, the Proposed Strategic Priorities are as follows, Economic Growth and Macro-stability; Supporting Productive Value Chains; Infrastructure, ICTs and the Digital Economy; Youth, Sport, Arts and Culture; Women, Gender Equity and SMEs; Devolution and Decentralisation; Human Capital Development, Well-being and Innovation; Effective Institution Building and Governance; and Image-building, Engagement and Re-engagement,” said Minister Muswere.

Under the leadership of the Second Republic, a strong economic recovery and transformation of the country is well underway, notwithstanding the COVID-19 pandemic and new shocks. The proposed policy actions in the Budget Strategy Paper therefore seek to accelerate and deepen this transformation in pursuit of Vision 2030, hence the Strategy theme.