Mid-term budget review to consolidate economic growth: Min. Mthuli Ncube

Zimbabwe’s mid-term budget review will be presented this month with treasury hinting on policies to rebuild the economy.

Six months into the year, the Minister of Finance and Economic Development, Professor Mthuli Ncube will review the impact of the 2021 budget on the economy.

Despite the Covid-19 pandemic, local and external shocks, Minister Ncube is confident the mid-term budget review will provide a platform to fine-tune some of the existing policies.

It is high time we should come up with systems to unlock production while ensuring sustained growth in the short to long term so it is just an issue of how we can balance the act to sustain growth and focus on the future.” 

The treasury chief revealed how the mid-term budget will also be critical in consolidating the gains of economic stability.

“The auction system is being ideal for the economy to such an extent we hope it can therefore enable industry and commerce to forge ahead with fresh policies on economic development.”

Expectations from industry and commerce include a review of tax-free thresholds, packages for public sector employees, tax relief policies, increasing productivity and savings among others.

Treasury and the central bank expect annual inflation to drop below 25 percent by December with the economy being projected to register a seven comma four percent growth buoyed by good yields, in the agriculture sector, improved energy, and resilience from mining and tobacco exports.