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2022 National Budget "Bereft Of Substance Or Form" - Biti

2022 National Budget

Former Finance Minister Tendai Biti (2009-13), who is the opposition MDC Alliance vice president has dismissed the 2022 National Budget presentation made by Treasury boss Mthuli Ncube as a “ritualistic formality.”

Ncube delivered a ZWL$927.3 budget with a GDP growth projection of 5.5% in 2022 and total revenue collections projected at ZWL$850.8 billion (16.8% of GDP). In a Twitter thread in response to Ncube’s budget presentation, Biti said:

That Budget presentation was made by a man just going through a ritualistic formality. It was a sordid exercise in mediocrity, mendacity & lackadaisity.

A lacklustre & vacuous presentation bereft of substance or form. One totally oblivious to the structural challenges facing Zimbabwe.

As we argued before Zim faces humongous structural challenges which will not be resolved by imposing punitive taxes that punish working people.

A brave approach was needed to deal with exchange rate distortions & multiple pricing system. Truth is de-dollarization has failed dismally.

The failure to address the structural issues around currency, the auction rate, deficits, corruption & the debt question makes the budget irrelevant.

The illicit takeover of RBZ s legacy debts, 3 years after the RBZ Debt assumption Bill is criminal. RBZ is a haven for crime & deficits.

We have always argued that the class of 2018 is the worst Government in the history of Governments. We respectfully submit that the 2021 Budget is proof beyond reasonable doubt of this contention.

More: Pindula News


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12 Comments

Chimbwido Warvet 5 months ago

Kamukomana yaye kazopinda zvako nyangwe tichida kana kusada. Anodiwa neruzhinji rwevanhu anongopinda. Saka ngaapinde zvake mukomana kana adiwa nevanhu.


Kode 5 months ago

Biti last time was complaining about y they are mixing ZWL and USD PABudget now kwashandiswa ZWL chete mazifigures avhundutsa vanhu okey then lets use blackmarket rates or interbank rates toconverter those to USD toona kuti imbori marii #changamu


NHM 5 months ago

Nhm


Black Jack 5 months ago

Aaaaah takananga kuma trillion dollars, that's where we are going. Kubango chinjanisa ma Finance Ministers imi maShefu muchiba sezvakaita Prisca na Obediah. Hapana chonofamba. Bvisai mbavha mu Government. Vari kudzimba dzavo instead of JAIL


Finance sec 5 months ago

Quadrillions here we come again🤑🤑


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Tsivo! 5 months ago

Mudhara biti vanongotaura taura chokwadi


Cde Tongo 5 months ago

biti problem yake imwechete ziromo rake zihombee harigone kuvharaa... Ndosaka Ari weMDC C.

ED pfeeeeeeeeeeeee 2023


Mdara bob 5 months ago

Pfeee kudiniko hatizvidi

Cde Tongo 5 months ago

Ukukwanguraaa wegaaaaaa..... Pfeeeeeee mudharaaa ED ngati vatsvatsvangeeee

Taneta 5 months ago

Pfee muchingokwangura

ED 5 months ago

@biti

Your issue is you're always negative, as such we fail to get you genuine point.

During your days as Finance Minister taingokurumbidzawo wani although we were using a stable currency USD. Remember Chinamasa introduced USD.

Yours truly

Ngwena


Kudra 5 months ago

Haaa mukoma Biti mawords enyu anoita tisanzwisise nyaa yenyu but still ,mukomana ngaaipinde hake



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