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Mid-Term Budget Review On Thursday Amid Resurfacing Macro-economic Challenges

Mid-Term Budget Review On Thursday Amid Resurfacing Macro-economic Challenges

Finance and Economic Development Minister, Professor Mthuli Ncube will this Thursday present the Mid-Term Budget Review on the back of resurfacing macro-economic challenges.

A combination of high inflation, exchange rate instabilities, global food supply shocks, soaring energy prices and the effects of war in Ukraine have not spared the Zimbabwean economy from challenging conditions.

The mid-term budget review is, therefore, expected to present an opportunity for fiscal authorities to review if the targets are being achieved, identify challenges and provide imminent solutions.

Already, the Ministry of Primary and Secondary Education (MoPSE) has indicated that it is failing to meet set targets including hiring 5 000 new teachers as the money allocated in the initial budget has since been eroded by inflation.

This, therefore, means that the government would need a supplementary budget or they will have to do with existing resources.

Minister Ncube would also be expected to review workers’ salaries to address growing discontent among workers across the board.

He would also be expected to review taxes as market watchers believe that the tax-free threshold is now too short of household demands.

For the business community, Ncube would be expected to review or offer tax relief for mining, agriculture, tourism, retail and distribution industries as high taxes have been identified as some factors affecting the growth of the economy.

Pindula News

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JahūüáŅūüáľTsvarie-07 2¬†months ago

ūü§Ē polaz, waitng 2 hear...

Prof M. N 2 months ago

Don't blame me for this economic crisis... It's Ukraine 's fault, climate change, CCC, Britain, USA, Musk and the Twitter nodeal and Susan mutami saga..........

Zimcitizen 2 months ago

To comment or not to comment, that wont stop the free fall of mthuli's RTGS$ (note the small letter on his name)

Dr Hercules 2 months ago

The budget is just a joke. Its like watching Mickey Mouse, Mthuli does nt know what he s doing. In Western countries someone in Mthuli s position would have resigned a long time ago. The University tht gave him the title Prof should reconsider, he shud be addressed as something else now.

Manikiniki 2 months ago

Just a waste of time as ussual.

waste of time 2 months ago

its like beating up a dead donkey

fun time 2 months ago

Ukraine war, what has that got to do with the price of mealie meal and sugar? You would rather not mention the Russian war in your presentation or argument we know you have everything at your fingertips to turn the fortunes of the struggling masses. No more excuses Mr Professor, perhaps you should consider visiting some rural schools and have an insight into how a poor person's child is struggling or has accepted the fate of hopelessness. You will run out of tears my brother.

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