Posted by Finance minister Tendai Biti told parliament that Zimbabwe needs to live within its means,and slashed by $700,000 000 a budget proposed earlier.
Tendai Biti,presented a new budget to parliament Wednesday.Patrick Chinamasa, appointed acting finance minister by President Mugabe, had proposed a $1.7 billion interim budget in January. Biti called for $1 billion in spending.
Biti called his a “reality budget” and pledged to raise funds for education, health and infrastructure.
In his budget revision speech, Biti said the government was unable to increase monthly allowances paid to civil servants from the current $100 — a move that would have helped build confidence in the new leadership.
“The outlook of our economic situation is still grim, but I have no doubt that we will be able to achieve the turnaround we require,” he said.
Less revenue will mean the government will take longer to restore services, supply dilapidated hospitals with medical supplies, rebuild schools and improve the infrastructure.
Biti said Mugabe would launch a short-term economic recovery plan on Thursday, focusing on the humanitarian crisis and agriculture, manufacturing and mining.
Just for the record
point seven billion is in fact 700,000,000 (seven hundred million) and not $700,000
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Epic fail
It is 700 million not 700, 000, please change accordingly.
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Well I hope that Biti is doing this after long and thorough research. What we don’t want is slashing for the sake of slashing only to be felt ur presence. Well I respect ur intelligence and hope u will deliver soon. May u pliz quickly intervene in buttressing ZESA bcoz so far there are hot eratic power cuts especially W/Park, Kuwadzana, DZ and other surrounding areas. Engineer Mudzuri is finding it difficult to be on his feet. He has staggered long enough to pain us and this has affected business drastically.
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I am doubting the capability of the honourable Minister whilist civil servants are ailing for a living wage you slash the budget may be I am getting lost somewhere it could be a semantic issue tell me when tthe budget is set there is no more salary increases for civil servants hee?
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Health, education and other esential services collapsed because there was no money to finance them, the reason being that Government had a ficticious revenue base. If fact the main source of revenue was Gono’s printing press. That has not changed much so Minister Biti is saying that, what we really have is US$1b so lets plan properly with that in mind. Its pointless planning for US$1.7b and go on to budget and spend so much for the military, free fuel for so and so, mechanisation for clueless so and so then discover that there is nothing left for malaria pills. Then so and so still want their 4by4 because it was budgeted for under the assumption that Tich Mataz and Jocelyn Chiwengwa will pay tax when in reality they just don’t cheat on taxes but also steal from the taxpayer. Lets spend what we have so that we optimise on resource allocation. Zimbabwe can not afford a merc for every minister, neither can they afford a second vehicle for every minister given the size of the new gvmt so if we specify exactly what we have or project to earn then we decide on what to buy and what not to.
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he called this “hunting economics” whereby u eat what u hunt.So, lets spend within our means & stop budgeting on expenditure
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whether cutting or leaving it we are counting on the 100 days that our Premier promised that he will turn the economy and unlock food. Infact Mugabe’s fortune/looting is estimated at $3 billion can he surrender at least $2 billion and the country will be fine then let him resign and go to Zvimba and give him time to rest at his age death is knocking he damaged the country
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