<p>A columnist writing for Newsday has said the president and the finance minister should not be allowed to abuse the constitution and later seek condonation without seeking the parliament’s approval prior to making budgetary borrowings.</p>
<p>Paidamoyo Mazulu opined:</p>
<blockquote><p>….Coming home, President Emmerson Mnangagwa declared a three-week lockdown that ends on<br/>
April 19 ostensibly to contain the spread of COVID-19. However, the lockdown was announced well after Parliament had gone into recess, leaving the Executive to run the country by decree.</p>
<p>The government has lived to its reputation of running things by decree and has issued no less than 20 statutory instruments to give direction during the lockdown and immediately after. Among the statutory instruments gazetted are those dealing with public health, minimum wage, raising customs excise on fuel and declaring which sectors are essential services that should operate during the lockdown.</p>
<p>As an afterthought, Finance and Economic Development minister Mthuli Ncube last week released a statement that said Treasury had set aside $500 million financial support for three months to small businesses and vulnerable people affected by the lockdown.</p>
<p>Said Ncube: “Vulnerable groups in our society are the most exposed under this COVID-19 crisis. Accordingly, Treasury has set aside resources to cover one million vulnerable households under a cash transfer programme and payment will commence immediately. The Social Welfare Department will use its usual mechanisms to identify the beneficiaries.” Ncube further said he was ringfencing the 2% intermediated money transfer tax for social protection and capital development projects and, hence, will ordinarily be channelled towards COVID-19-related mitigatory expenditures.</p>
<p>The minister also issued a circular of March 20, 2020 instructing line ministries to identify areas for cuts and areas for redirecting expenditures. It goes without saying that the Treasury directives have a significant impact on the 2020 national budget. The bailout figures have to be reflected in the Appropriation Act (Blue Book) as demanded by the Constitution. Section 305(4)(b) of the Constitution is very clear that Treasury can only incur expenditure as outlined in the Finance and Appropriation Act.</p>
<p>It is, therefore, imperative for Ncube to immediately table a 2020 supplementary budget that reflects the figures he has provided to mitigate against coronavirus effects. The budget has to be approved by Parliament for it to be constitutional in terms of section 305(5) of the Constitution. The unbridled and unrestrained use of public funds without parliamentary authorisation should be stopped. Mnangagwa and Ncube cannot be allowed to abuse the Constitution and later seek condonation, like they did last year for $9 billion that had been borrowed without parliamentary approval. Parliament should be convened soonest to approve these expenditures.</p></blockquote>
<p>More: <strong><a href="https://www.newsday.co.zw/">Newsday </a></strong></p>


Pindula News

OPINION: ED & Mthuli Should Be Restrained

<p>The Government of Zimbabwe has reportedly deployed four Cuban doctors to the Chitungwiza health department.</p>
<p>A government official revealed that the doctors in question are expected to start work early next year.</p>
<p>The Herald reports that the offer shall see Chitungwiza Municipality catering for the quartet’s accommodation and transport costs only while their salaries will be paid for by the Cuban government.</p>
<p>The publication further reports that Chitungwiza acting town clerk Dr Tonderai Kasu tabled the offer before a full council meeting last Tuesday and the local authority accepted the offer during the meeting after a cost-benefit analysis was presented.</p>
<p>This happens at a time when the country’s health sector is grounded with health caregivers having reached the 100th day on industrial action over unsustainable salaries and poor working conditions.</p>
<p>Public health institutions also lack essential equipment and medicines, a scenario that has left some analysts accusing the government of neglecting public health as they get medical attention from beyond the country’s borders.</p>
<p><a href="https://news.pindula.co.zw/2019/11/14/download-the-2020-national-budget-speech-pdf/">The 2020 Budget</a>, like previous one, allocated more money to the security sector, attracting criticism from policy experts and other observers.</p>
<p><strong>More: </strong><a href="https://www.herald.co.zw/just-in-cuban-doctors-for-chitungwiza/"><strong>The Herald</strong></a></p>


Govt Deploys Cuban Doctors To Chitungwiza, Cuba Paying Salaries

<p>Finance and Economic Development Minister <a href="https://www.pindula.co.zw/Mthuli_Ncube" rel="noopener noreferrer" target="_blank"><strong>Mthuli Ncube</strong></a> has refused to she mored light on the matter between the Zimbabwe government and China regarding the amount of bilateral support availed by the latter to the former.</p>
<p>Speaking during a press conference at the New Government Complex offices in Harare on Thursday, Ncube told reporters that the issue has since been resolved. He said:</p>
<blockquote><p>The issue of the figures has been discussed; only there was an error on the figures. This has since been resolved. I cannot say much now.</p></blockquote>
<p>During the 2020 budget presentation last week, Ncube understated the funds extended to Zimbabwe by China, giving a paltry figure of US$3.6 million.</p>
<p>China was angered by Ncube’s gaffe, with its embassy in Harare demanding that the Ministry of Finance “make comprehensive assessments on the statistics of bilateral support and accurately reflect its actual situation when formulating a budget statement”.</p>
<p>China insisted that she was by far Zimbabwe’s largest donor having provided $136.8m between January and September 2019.</p>
<h4><strong>More: <a href="https://zimmorningpost.com/mthuli-regrets-zimbabwe-china-bilateral-donor-funds-allocation-gaffe/" rel="noopener noreferrer" target="_blank">Zim Morning Post</a></strong></h4>


Mthuli Refuses To Explain 'China-Zimbabwe Bilateral Support' Mistake

<p>The government of Zimbabwe has issued a press statement following its meeting with the representatives of the People’s Republic of China government over queried figures in Finance Mthuli Ncube’s 2020 Budget Statement.</p>
<p>The Zimbabwe government said that the two sides had reached an agreement “on the facts and figures contained in the Statement issued by the (Chinese) Embassy on the 19th of November…”</p>
<p>Zimbabwe had earlier suggested that <a href="https://news.pindula.co.zw/2019/11/16/comparison-of-western-states-financial-support-to-zimbabwe-and-that-of-all-weather-friends/">China contributed only US$3.6 million to Zimbabwe in 2019</a>, a figure that <a href="https://news.pindula.co.zw/2019/11/19/china-criticises-zim-govt-for-giving-inaccurate-figures-of-its-bilateral-support-to-zimbabwe-full-text/">infuriated China who said that Zimbabwe had received US$136 million</a> from the Asian giant.</p>
<p>See the press statement in full below.</p>
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FULL TEXT: Zimbabwe Issues Statement After Meeting China Over Disputed Aid Figures

<p>Former Finance Minister, Tendai Biti has accused the government of lack of transparency and violating principles bookkeeping after Finance Minister, Mthuli Ncube allegedly recorded inaccurate figures as the Chinese contribution to the country this year.</p>
<p>Ncube alleged that China had given Zimbabwe US$3.6 million, a figure that was refuted by the Asian giant which stated that it had actually given Zimbabwe more than US$136 million under the same year. Posting on Twitter, Biti said:</p>
<blockquote><p><strong> The omission of Chinese Development Assistance in the Budget is amateurish &amp; reflective of the fact that under Emmerson mediocrity is the new normal. But the same budget also omits Chinese loans to Zim &amp; understates figures of external sovereign debt. The regime has been cooking book.</strong></p></blockquote>
<p>Meanwhile, China which has been dubbed Zimbabwe’s all-weather friend has criticised the Zimbabwean government for the alleged error.</p>
<p>Zimbabwe has responded saying that it was engaging its Chinese counterparts to reconcile books.</p>
<p><strong>More: </strong><a href="https://twitter.com/BitiTendai/status/1196788093665325056"><strong>Tendai Biti</strong></a></p>


"Regime Has Been Cooking Books," Biti Speaks Ncube "Omits Chinese Loans To Zimbabwe"

<blockquote>
<h4>Figures of China’s Bilateral Support to Zimbabwe in the Budget Statement Shall be Revisited</h4>
<p>The Embassy of the People’s Republic of China in Zimbabwe has taken note of the release of the 2020 National Budget Statement by the Zimbabwean government. The Embassy appreciates the positive role the budget will play in promoting the policies and propagating the facts and figures related to the economic development of the country.</p>
<p>In the meantime, the Embassy has noted that in the statement, among Development Partner Support (on Page 51) received by the Zimbabwean government through bilateral channels, the figure of bilateral support provided by China to Zimbabwe is 3,631,500 USD. This is very different from the actual situation on the ground.</p>
<p>According to our record, from January to September 2019, the actual bilateral support provided to Zimbabwe by China is 136.8 million USD. Such a figure does not include the other bilateral supports such as the expense of expert assistance, Embassy’s donations to local vulnerable groups and so on.</p>
<p>The Embassy wishes that the relevant departments of the Zimbabwean government will make comprehensive assessments on the statistics of bilateral supports and accurately reflect its actual situation when formulating the budget statement.</p>
<p>The Embassy believes that with the efforts of the Zimbabwean government and people, and with international support, Zimbabwe will achieve prosperity and development and realize the vision 2030.</p></blockquote>


China Criticises Zim Govt For Giving Inaccurate Figures Of It's Bilateral Support To Zimbabwe {Full Text}

<p>The <a href="https://www.pindula.co.zw/Zimbabwe_Congress_of_Trade_Unions" rel="noopener noreferrer" target="_blank"><strong>Zimbabwe Congress of Trade Unions (ZCTU)</strong></a> has scoffed at Finance Minister <a href="https://www.pindula.co.zw/Mthuli_Ncube" rel="noopener noreferrer" target="_blank"><strong>Mthuli Ncube’s</strong></a> 2020 budget proposal which it deems “anti-workers”.</p>
<p>ZCTU president <a href="https://www.pindula.co.zw/Peter_Mutasa" rel="noopener noreferrer" target="_blank"><strong>Peter Mutasa</strong></a> made the comments while contributing to debate during the post-2020 budget breakfast meeting last week. He said:</p>
<blockquote><p>With respect on behalf of labour, there is nothing much for workers and poor citizens, we take the mantra associated with this document as rhetoric since we have heard it before. It can only be pro-poor when we taste it on our tables.</p>
<p>… currently, we can’t buy bread, clothes and rentals but these were the major issues that we thought will be addressed. We have seen a lot of complicated statistics in the budget.</p></blockquote>
<p>Mutasa added that the budget is elitist and bookish, and does not address the aspirations of people in remote parts of the country.</p>
<p>He bemoaned the government’s aversion to dialogue with labour and it’s heavy-handedness when dealing with protesting workers.</p>
<h4><strong>More: <a href="https://www.newzimbabwe.com/zctu-lashes-out-at-mthuli-ncube-over-anti-workers-budget/" rel="noopener noreferrer" target="_blank">NewZimbabwe.com</a></strong></h4>


Workers Castigate 2020 Budget As 'Elitist & Bookish'

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<p class="js-tweet-text tweet-text with-linebreaks" lang="en">Norton legislator, Temba Mliswa has said that it was useless for Tendai Biti, the vice president of the MDC led by Nelson Chamisa to be posting his grievances on social media when he boycotted Parliament where those matters are discussed.</p>
<p class="js-tweet-text tweet-text with-linebreaks" lang="en">Biti had posted on Twitter saying:</p>
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<p class="js-quoted-tweet-text with-linebreaks"><strong>On Thursday the regime published the Financial Adjustments Bill H B 19 of 2019 in respect of which it seeks condonation of unauthorized expenditure of $ 10 679 603 044 ( ten billion six hundred &amp; three million forty-four thousand dollars) siphoned off between 2015 &amp; 2018.</strong></p>
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<p>In response, Mliswa observed that Biti was addressing the wrong audience. He said:</p>
<blockquote><p><strong>With all due respect <a class="link-complex" data-user-name="BitiTendai" href="https://twitter.com/BitiTendai/" rel="noopener user noreferrer" target="_blank">@<span class="link-complex-target">BitiTendai</span></a> this is why you should always be in Parly. Commenting on Twitter won’t help. I’ve always said let’s deal with these issues in Parly. It’s not everyone who reads the Hansard or is as brilliant as you TB. How many of your MPs can comprehend this?</strong></p></blockquote>
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<p class="js-tweet-text tweet-text txt-size-variable--18 margin-b--10 with-linebreaks padding-t--10" lang="en"><strong>You have experience, you were a former Finance Minister &amp; to you, this must be elementary, however to others it isn’t &amp; needed your elucidation. Now you’re just speaking alone &amp; yet may have enjoyed the support of many.</strong></p>
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<p class="js-tweet-text tweet-text with-linebreaks" lang="en"><strong>You’re commenting on something you snubbed &amp; yet when it’s debate time you debate. The same Bills you debate on are signed by the same <a class="link-complex" data-user-name="edmnangagwa" href="https://twitter.com/edmnangagwa/" rel="noopener user noreferrer" target="_blank">@<span class="link-complex-target">edmnangagwa</span></a> you walk away from &amp;the same <a class="link-complex" data-user-name="MthuliNcube" href="https://twitter.com/MthuliNcube/" rel="noopener user noreferrer" target="_blank">@<span class="link-complex-target">MthuliNcube</span></a> appointed by that very same <a class="link-complex" data-user-name="edmnangagwa" href="https://twitter.com/edmnangagwa/" rel="noopener user noreferrer" target="_blank">@<span class="link-complex-target">edmnangagwa</span></a> I’ve never understood the strategy behind this.</strong></p>
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<p lang="en">MDC MPs have been boycotting events which were attended by President Emmerson Mnangagwa whom they regard as illegitimate.</p>
<p lang="en"><strong>More: </strong><a href="https://twitter.com/TembaMliswa/status/1196629868496216065"><strong>Temba Mliswa</strong></a></p>
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FULL THREAD: "Now You’re Just Speaking Alone," Mliswa Tells Biti

<p>Zimbabwe’s Finance Minister, Professor Mthuli Ncube has, during his presentation of the <a href="https://news.pindula.co.zw/2019/11/14/download-the-2020-national-budget-speech-pdf/">2020 Budget Statement</a> revealed that Western States’ financial support to Zimbabwe outweighed those of other states including China which is considered the country’s all-weather friend.</p>
<p>The United States of America tops the list followed by the United Kingdom whilst China comes at a distant 5th.</p>
<p>See below the “Actual Development Partner Support disbursements for 2019 and projected disbursements for 2020”.</p>
<p><img alt="Image" class="css-9pa8cd" decoding="async" draggable="true" src="https://pbs.twimg.com/media/EJfwjk3XYAA2YWb?format=jpg&amp;name=900x900"/></p>
<p><strong>More: <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2019/11/2020-National-Budget-Speech.pdf">2020 National Budget Speech</a></strong></p>


Comparison Of Western States Financial Support To Zimbabwe And That Of "All Weather Friends"

<p>Zimbabwe’s Finance Minister, Professor Mthuli Ncube has in the 2020 budget reviewed the minimum and maximum thresholds for the infamous 2% transactional tax.</p>
<p>Presenting his Budget Statement to Parliamentarians this Thursday, Ncube said:</p>
<blockquote><p><strong>I propose to review the Tax-Free Threshold from the current ZWL$20 to ZWL$100 and the maximum tax payable per transaction by corporates from the current ZWL$15 000 to ZWL$25 000 for transactions with values exceeding ZWL$1 250 000.</strong></p></blockquote>
<p>Meanwhile, Ncube said that the 2020 Budget marked an exit from austerity to growth and employment creation, a statement which the general populace will find difficult to accept since austerity to some has been synonymous with the 2 percent transactional tax.</p>
<p><strong>More: <a href="https://t792ae.c2.acecdn.net/wp-content/uploads/2019/11/2020-National-Budget-Speech.pdf">2020 National Budget Speech</a></strong></p>
<p> </p>


"I Propose To Review The Tax-Free Threshold," Mthuli Ncube Speaks On 2% Transactional Tax

<p>Finance Minister, Professor Mthuli Ncube has said that the country was now ditching the infamous austerity measures.</p>
<p>Presenting his 2020 budget in Parliament this afternoon, Ncube said that the budget targets growth stimulation and employment through promotion of production-oriented investment and productivity, without losing focus on fiscal responsibility.</p>
<p>His remarks are a strong redolence of what he and President Emmerson Mnangagwa have been saying over the past few months.</p>
<p>Authorities have often emphasised the importance of rains to the growth of the economy noting that Zimbabwe is an agrarian economy.</p>
<p>They also said that rains are critical for power generation which is significantly low in the country as water is rapidly shrinking at Kariba Dam.</p>
<p>Meanwhile, some analysts have, in anticipation that the budget, which is being presented in Parliament right now, would, as usual, prioritise the security sector said that growth will be insignificant.</p>
<p><strong>More: </strong><a href="https://twitter.com/newswireZW/status/1194964445119819776"><strong>NewZWire</strong></a></p>


"The 2020 budget Marks The Exit From Austerity," Mthuli Ncube

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<p><strong>1529:</strong> Under the 2020 Budget, a fiscal incentive is being introduced to support employers who generate jobs for our young job seekers. Any additional job created will attract a percentage tax rebate to the employer, linked to the employee’s salary. This measure will reduce the employers cost of hiring young people through a cost-sharing mechanism with Government</p>
<p><strong>1527:</strong> Government has approved the concept of the New City being constructed on 18 000 hectares of land in Mt Hampden with the New Parliament Building as the catalyst. A modern Conference Centre will be budgeted under the 2020 National Budget.</p>
<p><strong>1526:</strong> Tourism is recognised as one of the pillars anchoring the country’s economic growth. The sector has continued on a positive trajectory path as evidenced by tourist arrivals that grew from 1.8 million in 2013, to 2.5 million in 2018. It is expected that tourist arrivals will marginally increase to 2.7 million in 2019, irrespective of the prevailing macroeconomic environment.</p>
<p><strong>1525:</strong> The Devolution programme should embrace the Rural Growth Poles development model anchored by cascading Special Economic Zones to the respective growth poles. Growth Poles will be considered on the basis of comparative advantage of the area. Local authorities have, therefore, a greater role to play in promoting this model by developing the necessary infrastructure and investment mobilisation initiatives. Emphasis will be on ensuring that targeted Growth Poles have the necessary basic infrastructure of portable water and sanitation. The Central Government on its part will provide requisite fiscal incentives.</p>
<p><strong>1522:</strong> Mineral exports remain the major sources of foreign currency, especially gold. However, leakages have been on the rise, depriving the country of foreign currency earnings. Government is, therefore, reviewing and tightening the Gold Trade Act, and capacitating the Gold Mobilisation Unit.</p>
<p><strong>1509:</strong> Grain subsidies will be removed beginning next year to avoid abuse of facilities. Transport subsidies to continue to cushion travellers.</p>
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<p class="js-tweet-text tweet-text with-linebreaks" lang="en"><strong>FinMin Ncube:</strong> <em>The Zupco subsidy to stay. More buses to be purchased.</em></p>
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<p class="js-tweet-text tweet-text with-linebreaks" lang="en"><strong>FinMin Ncube:</strong> <em>In order to further remove unbudgeted subsidies, govt will apply a single exchange rate throughout all sectors of the economy to avoid implicit subsidies arising from the preferential allocation of forex, as was the case with fuel.</em></p>
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<p class="js-tweet-text tweet-text with-linebreaks" lang="en"><strong>FinMin Ncube:</strong> <em>Govt will pursue its new thrust on funding agriculture, from state-led to bank-led. Govt funding will be targeted at vulnerable groups under social protection programmes.</em></p>
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<p><strong>1459:</strong> Economic growth of up to 3 percent expected in 2020…2020 national Budget marks an exit from austerity to prosperity, says Prof Ncube. All civil servants to get bonuses in November.</p>
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<p><strong>1455:</strong> He says implementation of key infrastructure projects such as Hwange 7 and 8, RGM International Airport are on course. Cyclone Idai left about 275 000 in need of assistance.</p>
<p><strong>1451:</strong> Prof Ncube says the Budget is a People’s Budget, whose theme is, “Gearing for Higher Productivity, Growth and Job Creation”.</p>
<p>“Austerity wasn’t retribution, national finances were in shambles and required re-balancing,” he says.</p>
<p><strong>1448:</strong> Prof Ncube salutes the President and his Vice Presidents for invaluable support in ongoing economic reforms.</p>
<p><strong>1446:</strong> MPs chant “ED Pfee!” as President Mnangagwa gets into Parliament.</p>
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<p><strong>1440:</strong> President Mnangagwa has arrived.</p>
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<p class="wp-caption-text">President Mnangagwa arrives</p>
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<p><strong>1436: </strong>Advocate Mudenda warns of stern measures against absconding 2020 Budget presentation saying “enough is enough”.</p>
<p><strong>More: <a href="https://www.herald.co.zw/live-blog-2020-national-budget/">The Herald;</a> NewZWire<br/>
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LIVE UPDATES: Mthuli Ncube Budget Presentation Has Begun

<p>The military, police and ZANU PF members are reportedly camped outside the Parliament of Zimbabwe ahead of the national budget presentation by Finance Minister, Professor Mthuli Ncube at 1445 this today. News Day reports:</p>
<blockquote><p><strong>Heavy Military and police presence outside Parliament at the Africa Unity Square side.</strong></p>
<p><strong>Zanu PF supporters singing outside Parliament ahead of the budget presentation.</strong></p></blockquote>
<p>Meanwhile, MDC legislators have threatened to boycott the session if president Emmerson Mnangagwa is attending the presentation.</p>
<p>The MPS argue that Mnangagwa is illegitimate.</p>
<p><strong>More: </strong><a href="https://twitter.com/NewsDayZimbabwe/status/1194947779250020354"><strong>News Day</strong></a></p>


Heavy Military, Police Presence Outside Parliament Ahead Of Budget Presentation

<p>The Minister of Finance and Economic Development, Professor Mthuli Ncube will this Thursday (today) present the 2020 National Budget Statement at 1445 Hours. Below are platforms from which one can follow the latest updates of the Budget Statement:</p>
<h2>Twitter</h2>
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<li><a href="https://twitter.com/MarketWatchZW" rel="noopener noreferrer" target="_blank">MarketWatch</a></li>
<li><a href="https://twitter.com/ZimBollar" rel="noopener noreferrer" target="_blank">ZimBollar</a></li>
<li><a href="https://twitter.com/NewsDayZimbabwe" rel="noopener noreferrer" target="_blank">Newsday</a></li>
<li><a href="https://twitter.com/BusinessTimesZW" rel="noopener noreferrer" target="_blank">Business Times</a></li>
<li><a href="https://twitter.com/InfoMinZW" rel="noopener noreferrer" target="_blank">Ministry of Information</a></li>
<li><a href="https://twitter.com/EquityAxis" rel="noopener noreferrer" target="_blank">Equity Axis</a></li>
<li><a href="https://twitter.com/OpenParlyZw" rel="noopener noreferrer" target="_blank">Open Parly</a></li>
<li><a href="https://twitter.com/HeraldZimbabwe" rel="noopener noreferrer" target="_blank">Herald</a></li>
<li><a href="https://twitter.com/DailyNewsZim" rel="noopener noreferrer" target="_blank">Daily News</a></li>
<li><a href="https://twitter.com/ZBCNewsonline" rel="noopener noreferrer" target="_blank">ZBC</a></li>
</ul>
<h2>Facebook</h2>
<ul>
<li><a href="https://www.facebook.com/profile.php?id=380838785328009&amp;ref=br_rs" rel="noopener noreferrer" target="_blank">Herald</a></li>
<li><a href="https://www.facebook.com/newsdayzim/?ref=br_rs" rel="noopener noreferrer" target="_blank">Newsday</a></li>
<li><a href="https://www.facebook.com/profile.php?id=126155317511807&amp;ref=br_rs" rel="noopener noreferrer" target="_blank">ZBC</a> <a href="https://www.facebook.com/profile.php?id=126155317511807&amp;ref=br_rs" rel="noopener noreferrer" target="_blank">NewsOnline</a></li>
</ul>
<h2>Livestream</h2>
<ul>
<li><a href="https://twitter.com/Zimpaperstv" rel="noopener noreferrer" target="_blank">ZTN</a> -Twitter</li>
<li><a href="https://www.facebook.com/zimpaperstvnetwork/" rel="noopener noreferrer" target="_blank">ZTN</a> – Facebook</li>
<li><a href="https://twitter.com/WeArePindula" rel="noopener noreferrer" target="_blank">Pindula</a></li>
<li><a href="https://twitter.com/OpenParlyZw" rel="noopener noreferrer" target="_blank">Open Parly</a></li>
<li><a href="https://twitter.com/NewsDayZimbabwe" rel="noopener noreferrer" target="_blank">Newsday</a></li>
<li><a href="https://twitter.com/263Chat" rel="noopener noreferrer" target="_blank">263 Chat</a></li>
<li><a href="https://www.facebook.com/profile.php?id=126155317511807&amp;ref=br_rs" rel="noopener noreferrer" target="_blank">ZBC NewsOnline Facebook</a></li>
</ul>
<p><strong>More: </strong><a href="https://www.techzim.co.zw/2019/11/follow-the-2020-national-budget-statement-presentation-today-at-1445-hrs-on-these-platforms/"><strong>Techzim</strong></a></p>


Here's Where You Can Follow The 2020 National Budget Statement Presentation Today (At 14:45 Hrs)

<p>Zimbabwe business leaders, trade unionists and informal traders have expressed hopelessness over the yet to be presented Finance Minister, Mthuli Ncube’s budget.</p>
<p>Speaking to New Zimbabwe in an interview, Zimbabwe Congress of Trade Unions secretary-general, Japhet Moyo said:</p>
<blockquote><p><strong>As usual, nothing is expected from the budget announcement. Firstly, the process of budgeting was exclusively for the politically correct, and leaving out key stakeholders in the consultation exercise.</strong></p>
<p><strong>As usual, I foresee the priorities being the security sectors and few resources being channelled towards social services and infrastructure.</strong></p></blockquote>
<p>His remarks come after Ncube expectedly said that the security sector needs to be taken care of since they ensure peace and security in the country.</p>
<p>Ncube said that peace and security are essential for the growth of the economy and the success of all other sectors.</p>
<p><strong>More: </strong><a href="https://www.newzimbabwe.com/ncube-budget-fails-to-excite-zimbabweans-cornered-govt-expected-to-pamper-security/"><strong>New Zimbabwe</strong></a></p>


"Nothing Meaningful As Usual," Zimbabweans Pessimistic About Mthuli Ncube's Budget

<p>The Minister of Finance is expected to announce the 2020 national budget on Thursday and here are the budget highlights according to the Herald:</p>
<ol>
<li>He is expected to maintain the 2% <a href="https://www.pindula.co.zw/2_Percent_Tax">Intermediated Money Transfer Tax.</a></li>
<li>Production goals are expected to be given priority</li>
<li>Fiscal discipline will be maintained with the 2020 Budget, adjustable upwards by 30% to cope with inflation.</li>
<li>The minister is expected to ensure that he maintains his primary Budget surpluses and restricts Government borrowing to the capital account</li>
<li>The Budget is expected to announce measures that promote industry, mining and agriculture.</li>
<li>The Budget will not announce any measures that will shock the market, but those that seek to grow industrial capacity and safety nets to cater for the vulnerable.</li>
<li>Measures to address high transport costs will continue, with more <a href="https://www.pindula.co.zw/Zimbabwe_United_Passenger_Company">Zupco</a> buses set to arrive from South Africa, Belarus and China, while more kombis will be co-opted into the mass urban transportation strategy.</li>
<li>Subsidies for public transport are to continue to be budgeted and tied to appropriate tax revenue.</li>
<li>The 2020 Budget is expected to contain measures that ensure the objectives of <a href="https://www.pindula.co.zw/Transitional_Stabilisation_Programme">Transitional Stabilisation Programme</a></li>
</ol>
<p>More: <strong><a href="https://www.herald.co.zw/budget-to-up-production-create-jobs/">The Herald</a></strong></p>


Mthuli's Budget Highlights

<p>The Finance Minister is set to present a $28.5 Billion budget on Thursday, the Chronicle reports. According to the publication, the budget to be presented by <a href="https://www.pindula.co.zw/Mthuli_Ncube">Mthuli Ncube</a> might be reviewed upwards due to inflation:</p>
<blockquote><p>The 2020 Budget is expected to be about $28,5 billion, which could be revised upwards by a factor of above 30 percent in view of inflation.</p>
<p>This requires Prof Ncube to make a serious balancing act to cater for the expectations of the nation.</p>
<p>Both President Mnangagwa and Prof Ncube have hinted that Zimbabwe was now moving out of austerity, and galloping towards economic growth driven by increased production and the Budget is expected to announce several measures that promote industry and agriculture.</p></blockquote>
<p>The minister will present the budget after a successful but <a href="https://news.pindula.co.zw/2019/11/02/undp-denies-funding-parlys-pre-budgetary-seminar/">controversial pre-budget seminar that took place in Victoria Falls last week.</a></p>
<p>More: <a href="https://www.chronicle.co.zw/minister-to-present-285-billion-budget/"><strong>The Chronicle </strong></a></p>
<blockquote><p> </p></blockquote>


Mthuli To Present A $28.5 Billion Budget

<p>Finance Minister, Professor Mthuli Ncube has projected that the economy shall register some positive growth in 2020 due to improved rainfalls which are essential for power generation and agriculture sector.</p>
<p>He also projected that the economy shall<a href="https://news.pindula.co.zw/2019/10/31/economy-to-further-decline-power-generation-to-be-cut-finance-minister/"> further deteriorate this year by 6.5%</a> before it regains strength next year. He said:</p>
<blockquote><p><strong>In 2020, the economy is projected to turn around building on the success of the ongoing reform initiatives. The growth will be underpinned by a better agricultural season and measures to enhance production.</strong></p></blockquote>
<p>Ncube also indicated that the 2020 National Budget will be geared at stimulating productivity across all sectors, jobs creation and enhancing of the competitiveness of the domestic economy.</p>
<p>The deterioration of the economy is in direct contrast with the projections Ncube made in this year’s budget.</p>
<p><strong>More: </strong><a href="http://www.zbc.co.zw/treasury-confident-of-economic-recovery-in-2020-real-gdp-growth-projected-at-3/"><strong>ZBC News</strong></a></p>


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