LIVE UPDATES: Zim Finance minister presents mid term fiscal policy review

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ZIMBABWE’S Finance minister Patrick Chinamasa presents the country’s Mid Term Fiscal Policy review in Harare this afternoon as the economy continues to under-perform.

–Low FDIs continue to hurt economy–Chinamasa

–Diasopra remittances declined by 15%

–Fiscal position remains under pressure–Chinamasa

–Legislation to finalise minimum capital requirements for insurance companies being finalised

–Zimbabwe to maintain multicurrency system-Chinamasa

–Government is not owing farmers for maize deliveries

–Govt to provide inputs worth US$15,4 mln to A1 and communal farmers during the summer cropping season

–zimbabwe has compensated US$42,7M to 43 farmers who lost land under the land reform program

–Budget deficit at US$623 million which is far above full year target of US$150 million

–Deficit being funded through TBs

–Tobacco target at 201kg against target of 170kg

–Zimbabwe has eight months supply of grain

–972 764 carats of diamonds produced against target of 6 million carats

–Platinum at 7968 tons from 4990t prior comparative period

–Government to finance its gold buying unit, Fidelity Printers and Refiners

–Zim to intensify lobby on lifting of ban on ivory trade ahead of CITES meeting in South Africa

–Power utility’s debtors book stands at US$1,1bn

–Tokwe-Murkosi dam to be completed by yearend

–Zim external debt at US$7,5bn, arrears accounting for 80%. Total debt stock at US$9,6bn

–GDP growth seen at 1,2% from 1,4% announced in May

–Public spending accounting for 96,8% of revenues

2 thoughts on “LIVE UPDATES: Zim Finance minister presents mid term fiscal policy review”

  1. Chasura says:

    “Public spending accounting for 96,8% of revenues’, hapana kwatiri kuenda naMatibili and company. Then unotonzwa munhu achiti zanu ndizvo……..so?

  2. karanda says:

    Mozotiitirawo budget iyi nemarudzi edu kunzvimbo dzedu dzatinogara hoo.

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