Zimbabwe’s Finance Minister Patrick Chinamasa says country’s cash crisis will not be resolved overnight, saying he is minded to tackle the widening budget trade deficit.
Movement for Democratic Change Member of Parliament for Mkoba Amos Chibaya on Wednesday taunted Minister of Information, Communication and Technology Supa Mandiwanzira that he was a serious worshipper because he was the only surviving member of G40.
If all goes according to plan, Finance Minister Patrick Chinamasa’s 2018 budget will be remembered chiefly for its promised repeal of the Indigenisation Act, except for the diamond and platinum industries.
Mineral export receipts are projected to grow 8.7 percent to $2.5 billion next year from $2.3 billion in 2017 driven by the anticipated output growth and modest recovery in international mineral prices.
Finance Minister Patrick Chinamasa yesterday presented the first budget under the presidency of Emmerson Mnangagwa, seen as key to Zimbabwe’s economic recovery by restricting thresholds of the controversial Indigenisation Act to platinum and diamonds while re-engaging foreign debtors on the 2015 Lima debt clearance plan Here are five takeaways: The Indigenisation albatross Chinamasa took a hammer to the Indigenisation and Economic Empowerment Act, passed in 2008 by Robert Mugabe and has been key to his reelection in the 2008 and 2013 elections.