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Published On: Sat, Nov 22nd, 2014

National Budget Set for Thursday

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Finance and Economic Development Minister Patrick Chinamasa will present the 2015 National Budget statement on Thursday next week which is expected to set the tone for the consolidation of economic recovery underpinned by the Zimbabwe Agenda for Sustainable Socio-Economic Transformation.

“I write to advise that the Minister of Finance and Economic Development, Hon Patrick Chinamasa, (MP) will present to the House of Assembly and the Senate, the National Budget for 2015 Fiscal Year on Thursday, 27 November 2014,” said the ministry’s permanent secretary Mr Willard Manungo in a statement.

Some of the issues that Minister Chinamasa is expected to address include high taxes, allocating funds for infrastructure development, agriculture, energy development and social services sectors.

In his mid-term policy statement, Minister Chinamasa hiked import duties on vehicle imports and introduced measures to curb imports of products which are also produced locally.

Having laid a firm foundation on ZimAsset, Government is expected to consolidate the gains recorded under the blue print. Some of the notable achievements of ZimAsset include signing of mega deals with China and Russia which are expected to contribute to economic development in the medium to long term.

Some of the deals relate to the energy sector where work on the ground has commenced.

Kariba South Expansion is one of the energy projects that has already started to take shape after the ground breaking launch by President Robert Mugabe this year. Minister Chinamasa’s budget is likely to introduce new measures in the financial services sector.

He is expected to introduce measures to encourage value addition and beneficiation, a key pillar in the successful delivery of ZimAsset.

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