Economists are expecting a low-key budget that will do little to stimulate economic growth or put money back into the overstretched pockets of consumers. Instead, they suggest, this year’s budget, set to be delivered by Minister of Finance, Iipumbu Shiimi at 2:30 this afternoon, will present a more stringent spending pattern considering the deteriorating fiscal space. Pointing out that the budget is likely to stick to the line that Shiimi spelled out during his mid-term budget review statement late last year, they predicted zero tax relief for consumers, but instead an increase in levies on alcohol, fuel and tobacco products as well as the introduction of some of the taxes mooted in last year’s speech. While insisting that now was not the time for fiscal consolidation, they conceded that the Minster had little room to play with in this regard.
