Finance Minister presents budget review today

Finance Minster, Seth Terpker, will this morning present a budget review to parliament – four months after the main 2015 budget was presented.

A review of the budget has become necessary partly due to the fall in the price of oil on the international market.

Government is likely to suffer a revenue shortfall of about $700 million out of the $1.2 billion it budgeted as a result of the fall.

The minister will inform Parliament on what it is doing to cushion the country as a result of the shortfall and how it is going to spend its finances.

There are also speculations that the country’s programme with the International Monetary Fund (IMF) has made the revision of the 2015 budget necessary.

Certain recommendations made in the IMF programme are expected to feature in the revised budget.

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