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Tuesday, June 6, 2023

 Zimbabwe funds 2023 budget using domestic resources              

 By  Stanley James, Business Editor

ZIMBABWE’S domestic resource mobilisation drive is on track as over 80 per cent of the 2023 National Budget is being funded by local resources.                     

The Second Republic continues to demonstrate its stance on homegrown solutions in funding development initiatives after revelations that the ZWL4,2 trillion budget will largely be funded by domestic resources.

The development has excited economic experts and other key stakeholders.      

“It means that there is that ability to even balance resources with the local ones thereby sustaining economic development,” said  Tendai Mafunda, Businessperson.

Agronomist, Frank Kubvakacha  said, “What is therefore needed is that element to see that more revenue is raised as well as sustaining inflationary pressures.”              

Away from revenue sources, the 2023 budget is focused on social protection, industrial growth, upgrading of amenities, stimulating domestic demand and sustaining the current economic stability.

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