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2019 MID TERM BUDGET REVIEW STATEMENT

Welcome to todays live blog coverage brought to you by Mr. A. Nyamuramba , Mrs C. Mpofu- Muvhami and Miss D. Makina.

The Hon. Minister of Lands, Agriculture, Rural Resettlement and Climate Change, Hon P. Shiri has just apologised for his conduct in the House yesterday.

Hon J. Chinotimba has lambasted the members of the opposition for boycotting todays session,which will be attended by  His Excellency, the President , Cde E. Mnangagwa.

The Speaker has reminded the members of the opposition that His Excellency is the Head of State, Government , Commander in Chief of the Zimbabwe Defence Forces  and is recognised by the AU , UN and all bodies under the sun.

H.E’s position is clearly spelt out in Section 116 of the Constitution of Zimbabwe.

The Speaker has ruled that the Members of the opposition should not be allowed to attend today’s sitting  and also forego their allowances.

The Hon Speaker has just adjourned the house in preparation for the arrival of H.E and the Minister of Finance Hon M. Ncube.

H.E the President of Zimbabwe Cde E. D. Mnangagwa has just entered the National Assembly Chamber and has taken his seat.

The Minister of Finance and Economic Development Hon Professor M. Ncube  has taken the stand and has begun to present the Mid Term Fiscal Review.

He has begun by capturing the key tenets noting that it is incumbent upon all of us to remain steadfast.

The Minister has announced that the current account is now balanced.

On expenditures he has noted that the Government’s expenditure  for January to June 2019 was $4.2 billion.

Concerning the budget balance for half of the year 2019 a surplus of   $803,6 million was realised.

He has postulated that all Treasury Bills were honoured by Government.

The Minister has pointed out that current account balance has had  a surplus of some  USD 106 million   registered in the first half of 2019 compared to a deficit during the same period in 2018.

The Minister has highlighted that the 1:1 bond note to USD exchange rate  became unsustainable. As a result a liberal inter-bank exchange rate came into operation and this has seen the decepitation of the run away parallel market rate.

The expected expenditure will be ZWL 18,62 billion against an expected income of ZWL 14.1 Billion .

He has  pointed out that Government had to cushion civil Servants and Pensioners because of the inflation.

In preparation of 2019 – 2020 Agricultural session the Government will set aside ZWL 1,67 Billion  in support of strategic grains production.

He reiterated that measures will be put in place to recover all the loans that are going to be disbursed to the farmers.

ZWL 630 Million has been set aside for the purchase of grains and logistics.

A gold finance facility is being put in place to support Fidelity Printers  to buy gold at  a rate of 55% being retained by  producers through nostro accounts and 45% being in local currency.

The drought has reduced the the production of electricity at Kariba , which has led to  power cuts.

Government has approved  with immediate effect new electricity tariffs among others for domestic and agriculture as follows:

Domestic  from 9,86 Zim Cents to 27 Cents per Kilo Watt Hour and  the same applies for Agriculture.

The Minister has stated that thee decision to upgrade the roads continues to offer benefits for road users.

To cater for road rehabilitation and resurfacing a total of 284.2 Million has been set aside to year end.

In the health Sector, to date four posts namely Dundwe , Minda , Kairezi  and Gumbochuma are now in the final stages of completion  and expected to be open  to communities in the third quarter of 2019.

With regards to central hospitals , refurbishment works for the medical gas reticulation system, theaters and incinerators at Mpilo and UBH have now been completed.

 

 

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STATE OF THE NATION ADDRESS BY HIS EXCELLENCY, THE PRESIDENT, CDE E.D. MNANGAGWA, 20 DECEMBER 2017

Welcome to the live coverage of the First State of the Nation Address by His, Excellency, The President, Cde. Emmerson Dambudzo Mnangagwa. The overage of today’s event will be brought to you by Mr A. Nyamuramba and Ms T. L. Manyemba where His Excellency will be addressing a joint sitting of the Senate and the National Assembly in terms of Section 140 (4) of the Constitution.