Minister of Finance, Economic Planning and Development Joseph Mwanamvekha has hailed the 2019/20 as a financial year that will be a “value for money.”

Mwanamveka revealed the above as he was addressing stakeholders at the first pre-budget consultation meeting for the 2019/20 National Budget that will be presented later this September. “The budget will, therefore, focus on promoting domestic and foreign investments, diversification in agriculture, promotion of manufacturing and value addition, investments in energy sector, and ensuring “value for money.”

The budget will be presented amid rising public debt at $4.3 billion (about K3.2 trillion) or 68% of the gross domestic product (GDP), comprising $2.2 billion (about K1.6 trillion) or 34.9% of GDP and external debt at $2.1 billion (about K1.5 trillion) or 33% of GDP.