Govt to reduce 2023-24 National Budget from K3.871 to K3.788 trillion due to Cyclone Freddy

Government has suggested to reduce the 2023-24 National Budget from K3.871 trillion to K3.788 trillion.

The suggestion has come after observing that the proposed budget is not in line with the current crisis as a result of devastating effects of Cyclone Freddy.

This comes as the parliament is yet to pass the 2023-24 National Budget.

However, Finance Minister, Sosten Gwengwe has backed government’s idea saying that the budget has been reduced due to the impact of Cyclone Freddy that has affected the economic status of the nation.

Gwengwe has added that the reduced budget will help address the key economic challenges affecting various government sectors at the moment.