2024 BUDGET COMMENTARY
The 2024 National Budget was presented by the Honourable
Minister of Finance and National Planning to the National Assembly
on 29 September 2023.
The theme of the 2024 budget is "Unlocking Economic
Potential".
The country is projected to achieve a positive 2.7% of Gross
Domestic Product (GDP) growth in 2023, compared to 5.2% in
2022.
The slowdown in growth is mainly attributed to:
- Challenges arising from the Russia- Ukraine war;
- Delayed conclusion of the negotiations with the country's
creditors; and
- Weak performance that was recorded in the mining sector.
Projected GDP Growth in 2024
The strategy to achieve the growth objectives will be founded on
four thematic areas as outlined in the Presidential Address
delivered on the Official Opening of the Third Session of the
Thirteenth National Assembly. The Address provided the policy
direction as laid out in the Eighth National Development Plan and
the 2024 budget. The four
