Priorities that will guide government spending in the next financial year (2023/2024) have been set out in a recently released Budget Strategy Paper (BSP) that sets the tone for formulating the next national budget.
According to the Ministry of Finance, development of the BSP is part of the annual budget preparatory process and is meant to enhance understanding of the broader macro-economic and fiscal issues that will guide prioritisation of budget allocations for the coming financial year. It also identifies national strategic priorities that the government seeks to focus on in the next financial year in line with the latest global, regional and domestic socio-economic developments.
Digital transformation, business environment reform, infrastructure development, value chain development, and sustaining livelihoods have emerged as key strategic priorities for the next financial year that will start on 1st of April 2023.
To unpack the BSP and the priority areas identified, the Ministry of Finance held its annual Budget Pitso this week to which economists, civil society and other interested parties were invited.
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