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Sunday, December 4, 2022
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Expectations high for budget presentation

By Owen Mandovha

AS the nation awaits the presentation of the 2023 national budget this week, the focus is on how Treasury will enhance the obtaining economic stability while meeting the nation’s socio-economic aspirations.

ZANU Pf Chief Whip in Parliament, Honourable Pupurai Togarepi recalls that the Head of Treasury has walked a tightrope since the austerity-themed budget of 2018.

He was, however, quick to point out that against all odds, the national budgets presented so far have provided a bedrock for sustained economic recovery.

“Remember in 2018 when the Minister of Finance and Economic Development Professor Mthuli Ncube mentioned that the economy was overly burdened by twin evils of fiscal and current accounts deficit. We got into austerity which set the foundation for the stability and recovery of the economy. Now our expectation this Thursday is a budget that harnesses this stability but also speaks to the aspirations of workers,” said Togarepi.

Zimbabwe National Chamber of Commerce President Mike Kamungeremu anticipates a budget that harnesses the confidence of industry.

“Industry was heavily weighed down by a plethora of challenges that affected competitiveness however we have seen some increased imports due to the relaxation of duties. Our expectation as the industry is that we seek to see a fiscal policy that speaks to the interests of our members,” he said.

Other analysts who spoke to ZBC News contend that several hurdles still lie along the way and it will be important for the government to monitor expenditure patterns in a manner that keeps the money supply under check but at the same time meet the socio-economic aspirations of the nation.

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