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Biti Trashes Mthuli Ncube's $929.3 Billion Supplementary Budget

Biti Trashes Mthuli Ncube's $929.3 Billion Supplementary Budget

Former Finance Minister Tendai Biti said that Zimbabwe’s economy is now off the rails following the announcement of the ZW$929.3 billion supplementary budget recently.

Biti, who is the Harare East legislator (CCC), made the remarks in Parliament last week while MPs debated a Committee report on the supplementary budget presented to the House by Finance Minister Mthuli Ncube at the end of last month. Said Biti:

We have been there before, in 2006, 2007 and 2008, once you begin to budget in trillions, you must know you have lost it. You must know that you have now become an innocent bystander to the economy.

You must know that you are no longer in charge of the economy. Unfortunately, that is the predicament that my good friend, the Minister of Finance finds himself in.

A supplementary budget is an increase, of 10%; 15% – you can call it a supplementary budget.

… but when you have a 100% increase on the original budget, it cannot be a supplementary budget.

This is a brand new budget; a budget that is now raising expenditure by 100% to $1.9 trillion.

Ncube presented a supplementary budget of ZW$929.3 billion on top of the initial 2022 approved budget of ZW$968.3 billion. This increased the proposed 2022 budget to ZW$1.9 trillion.

Biti, who is CCC parliamentary spokesman on the economy, said Ncube’s budget presentations have become meaningless. He said:

The concern is that the underlying assumptions made by the Minister were so far off the mark that hardly more than six months later, he has had to come to this august House to ask for a 100% increase in his budget.

So we question the legitimacy and credibility of all the processes that we are doing. It is a waste of time that we are asked to sit here when the Minister is going to go and be off target by 100%.

More: NewZimbabwe.com

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10 Comments

Putin 1 month ago

l thot Biti was at Chikurubi Maximum Prison.


Nimrod 1 month ago

Why should he be in chikurubi. only rapists should be there

Ndunga 1 month ago

It's Job Sikhala you bold turkey.

Herman 1 month ago

Its definitely a new budget Biti is always right


St Michael 1 month ago

It's unfortunate that Zanu Pf MPs are called in to support the impossible and have been reduced to puppets on chains while the master puppeteer himself is drunk to the point of not knowing where the economy is headed to.


Putin 1 month ago

Thank @Nduna l was mistaking Biti for Sikhala.


Engineer Tate 1 month ago

Biti is the rightful minister of finance. These guys like Mthuli don't know what they are doing


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bhuru 1 month ago

economy haigadzirwi nekuti ndiri war vet,,,,paakudiwa dzidzo chaiyo pakuita maths dzenyika,,,,,,,watch out for BACK TO GONO era


Citizen 1 month ago

stop printing money and start tangible production and lure investors, promoting export and incentivising exporters


Spear 1 month ago

shut up Biti! u are not qualified to comment on economic issues as u lack the expertise and qualification.Only fools value your contribution becoz kuitwa minister kwawakaita didnt make u a guru in economic matters. ungaty kulaw kwacho uri below average lawyer kwawakaverenga wozozvita champion yeeconomy. Chinamasa akaita minister wefinance minister wehealth haasi Doc.



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