In conclusion the Hon Minister indicated that he has no doubt that current economic challenges are surmountable provided we put our efforts together as a nation an continue taking bold and decisive steps to open up and grow the economy.
Parliament and Audit Office $1.87 Billion has been allocated . This will address the requirements of the Audit office covering personnel, condition of service and tools of trade to enable Parliament to undertake value for money audits, among other Oversight functions.
Government is rolling out the National e-Government program in order to simplify communication between Government and citizens and the creation of an effective system for Government Departments to interact with one another.
Women Development Fund and others have been allocated various sums for rehabilitation of Training Centres such as Jamaica Inn.
Road and Dam Construction has also been allocated funds in the 2020 National Budget.
National Venture Capital Fund will be revitalised $500 million has been set aside, this will be targeted at Youth Entrepreneurship and it will be championed by His Excellency the President.
A fiscal incentive is going to be created through a rebate to the company that creates employment for growth.
Government has approved the building of the new city in Mt Hampden and a Conference Centre will be budgeted for in the 2020 National Budget. Private Sector is invited to partner Government through Private Public Partnerships.
Tourist arrivals are expected. $290 million have been allocated to the Ministry of Environment and Hospitality Industry.
Development of Rural Growth Point Devolution shall be done by Rural District Councils and that growth points should have requisite water an sanitary infrastructure.
Government will continue to capacitate ZUPCO in order to subsidise the transport costs for the vulnerable groups.
Civil Servants bonuses will now all be paid in November and will be inclusive of allowances, this is in recognition of the current high inflationary levels that have significantly eroded the Civil Servant’s income.
Management of expenditure will be key to the 2020 National Budget. There will be strict adherence to what the Accounting Officer has been allocated and expenditure outside the allocated budget will not be tolerated. There will be rule of law under my watch.
Market expectations caused a ride in inflation, however, a 3 percent growth rate is focused for 2020, due to good rains, improved micro economic factors, due to improved electricity supply.
To mitigate the effect of droughts and Cyclone Idai resources were mobilised, he thanked Development Partners for their support in this regard. Lives and properties were lost due to the cyclone, this has put off track some of the TSP plans.
The reforms centred on austerity for prosperity were geared at rebuilding, which placed the fiscus on a sound footing.
The Minister of Finance and Economic Development Hon Prof. M. Ncube has asked leave to present the 2020 National Budget to the House. He thanked the President, Vice Presidents for providing leadership that has enabled Cabinet to come up with this budget. He also thanked the Parliamentary Portfolio Committees and Members of Parliament in general for their in-depth contribution to the 2020 National Budget. He has referred to the 2020 National Budget as the people’s budget.
His Excellency, The President, Hon E. D. Mnangagwa has arrived at Parliament Building for the 2020 National Budget Presentation.
The Speaker of the National Assembly Hon. Advocate Jacob Francis Mudenda has indicated that he is going to take the necessary measures to address the MDC – Alliance’s behaviour at the appropriate time.
Members of Parliament from the MDC – Alliance have boycotted the 2020 National Budget Presentation. Hon T. Mliswa has called on Parliament to take stern measures against MDC -Alliance Members of Parliament’s behaviour.
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