2020 NATIONAL BUDGET PRESENTATION 14 NOVEMBER 2019

Administrator November 14, 20194:40 pm
For a view of the pictures of the 2020 National Budget Presentation please go to our Facebook page : parliamentofZimbabwe.
Thank you for following this blog, its good bye from Ms Tanyaradzwa Linda Manyemba and Mr Addmore Nyamuramba.
Administrator November 14, 20194:37 pm

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.

Administrator November 14, 20194:35 pm
In personal income tax the threshold has been moved from $700 to $2000 per month and tax bands have been adjusted to beging at $2001 and end at $50 000 above which the highest marginal tax rate of 40 percent, in line with economic developments with effect from 1 January 2020.
Bonus tax free threshold have been moved from $1000 to $5000 with effect from 1 November 2019.
Administrator November 14, 20194:31 pm
Revenue Measures to Support Productivity, Growth and Jobs
Will see the ring fencing under suspension of excise duty of 150 000 litres of illuminating power kerosene which is a key ingredient in the manufacture of LKYD raisins imported by approved paint manufactures with effect from 1 January 2020.
– Suspension of rebate duty on raw wine that is 175 000 litres to 200 000 litres per annum for a period of 2 years with effect from1 January 2020. Suspension of rebate duty on motor vehicles used by Safari Operator used for game views and drives for 24 months effective 1 January 2020.
– Introduce a suspension of duty facility to car hire companies for 12 months beginning 1 January 2020 subject to the following conditions: and;
– extend the suspension of duty on vehicles used by tour operators for 1 year.
– suspension of duty facility for importation of 100 buses for 12 months beginning 1 January 2019 in order to afford the opportunity to bus operators to replenish their fleet.
Administrator November 14, 20194:10 pm

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.

Administrator November 14, 20194:09 pm
Security
The 2020 Budget will strive to ensure that Government addresses issues that enable its security forces to undertake thier mandate swiftly such as Air craft maintenance, accommodation, equipment, electrification of prisons and institutional provisions, medical supplies as well as medical facilities. The Security cluster has been allocated following:
– Defence and War Veterans $3.11 Billion
– Home Affairs and Cultural Heritage $2.8 Billion
– Zimbabwe Prisons and Correctional Services $709 million.
Administrator November 14, 20194:04 pm
Fighting Corruption
Government will avert this risk in 20202 by focusing on strengthening internal control systems developing and implementing a national Anti-Corruption strategy, enacting whistle blower legislation and protection in line with the best practices, capacitating institutions established to combat corruption and addressing conflict of interest issues where Government is both regulator and player.
Administrator November 14, 20194:00 pm
Public Enterprises
The 2020 Budget should fast track the implementation of P.E reforms whilst enforcing the provision and regulations of the Public Entities Corporate Governance Act and making the necessary adjustments to all the administered as prices to ensure cost recovery.
Administrator November 14, 20193:57 pm
Competitiveness
Eased of doing business will see the creation of a conducive environment for attracting investment, government will embark on the second round of ease of doing business reforms targeting 16 areas including improvements in paying taxes, obtaining construction permits, starting business, ease of doing transport business, clearance of imports and exports among other areas.
Administrator November 14, 20193:55 pm
To strengthen Social Protection Programs the Budget will support the following:
– Food for work and income generation projects $50 million
– Harmonised social cash transfer $500 million
– BEAM $450 million
– Management Information System $10 million
– Decent work country program $300 million and
Food deficit Mitigation $1020 million.
Administrator November 14, 20193:52 pm
Education
Innovation hubs will be the major focus and the completions and setting and equipping up of the six innovation hubs and operationalising them to ensure existing innovations in different Universities are developed into proto types that will be industrialized at the industrial Parks. Resources will be allocated to stimulate and support innovation and industrialization.
Administrator November 14, 20193:50 pm
Health Care
To consolidate our achievements in healthcare, $6,5Billion has been allocated to this sector, catering for heath infrastructure, personnel welfare, medicines, drugs and sundries, among other essential hospital equipment and necessities.
Administrator November 14, 20193:47 pm
Urban Mass Transport System
Government has introduced a Urban Mass Transport System (UBMTS) initially targeted at urban areas, but has now been extended to other parts of the country and a $540 million subsidy has been allocated to this public policy program.
Administrator November 14, 20193:45 pm
Water supply and sanitation
$400million has been allocated to Gwayi-Shangani Dam, $128 million for Causeway Dam, $192 MIllion for Chivhu Dam, Kunzvi Dam$259 million, Semwa Dama $216 million and other dams $205 million.
Administrator November 14, 20193:43 pm

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.

Administrator November 14, 20193:38 pm

Women Development Fund and others have been allocated various sums for rehabilitation of Training Centres such as Jamaica Inn.

Administrator November 14, 20193:37 pm

Road and Dam Construction has also been allocated funds in the 2020 National Budget.

Administrator November 14, 20193:36 pm

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.

Administrator November 14, 20193:33 pm

A fiscal incentive is going to be created through a rebate to the company that creates employment for growth.

Administrator November 14, 20193:32 pm

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.

Administrator November 14, 20193:30 pm

Tourist arrivals are expected. $290 million have been allocated to the Ministry of Environment and Hospitality Industry.

Administrator November 14, 20193:28 pm

Development of Rural Growth Point Devolution shall be done by Rural District Councils and that growth points should have requisite water an sanitary infrastructure.

Administrator November 14, 20193:26 pm
2020 fiscal regime for the Mining Sector will be fine tuned by the Minister of Mines and Mining Development.
Zimbabwe Mining Development Corporation (ZMDC) will be financed as a result more than $200 million will be set aside for recapacitation.
Administrator November 14, 20193:22 pm
Government is putting $155 million to cushion the people against drought induced hardships. Irrigation development is receiving top priority to irrigable hectarage to enhance food security.
Solar irrigation systems will also be put in place to enhance food security.
Administrator November 14, 20193:18 pm
Agriculture
In line with Smart Agricultural Thrust, Command Agriculture; Commercial Agriculture will now be financed through the bank, however, vulnerable groups will continue to receive Government’s support.
Administrator November 14, 20193:16 pm

Government will continue to capacitate ZUPCO in order to subsidise the transport costs for the vulnerable groups.

Administrator November 14, 20193:14 pm
Fuel and Electricity
Government has come up with tariffs that ensure that there will be availability of the product and service.
In January 2020 Government will remove subside to Grain Millers, will have option to import or buy from Grain Marketing Board.
Government will have targeted subsidy on the producers of Roller Meal, Cooking oil and Bread.
Administrator November 14, 20193:11 pm

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.

Administrator November 14, 20193:09 pm

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.

Administrator November 14, 20193:07 pm
The budget is envisaged to have a 1.5 percent deficit of the gross domestic product.
Administrator November 14, 20193:05 pm

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.

Administrator November 14, 20192:59 pm

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.

Administrator November 14, 20192:56 pm
Current Account Budget
The current budget and expenditure which he called the twin deficits have been reduced. He also produced the $2 note and showed it to the House to signify the advent of the new local currency.
Administrator November 14, 20192:54 pm

The reforms centred on austerity for prosperity were geared at rebuilding, which placed the fiscus on a sound footing.

Administrator November 14, 20192:51 pm

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.

Administrator November 14, 20192:42 pm

His Excellency, The President, Hon E. D. Mnangagwa has arrived at Parliament Building for the 2020 National Budget Presentation.

Administrator November 14, 20192:40 pm

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.

Administrator November 14, 20192:36 pm

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.

Administrator November 14, 20192:35 pm

Welcome to this blog, today’s coverage is brought to you by Ms Tanyaradzwa Linda Manyemba and Mr Addmore Nyamuramba.