LIVE UPDATE: Budget Presentation By Finance Minister Professor Mthuli Ncube
14 November 2019
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By Jane Mlambo| Finance Minister Professor Mthuli Ncube presents the 2020 national budget and below are the highlights from his presentation currently underway in parliament.

Read below updates from the budget presentation;

Independent legislator Temba Mliswa says MDC legislators must respect parliament by attending budget presentation. They are not sincere “vakuda shamu inemunyu”.

Mthuli Ncube says the 2020 budget marks the exit from austerity to growth stimulation and employment through promotion of production oriented investment and productivity,

Mthuli Ncube says additional measures will be taken on subsidies to ensuree that only those can benefit.

Fuel and electricity: The pricing framework is made to ensure that its insync with regional prices

“Government will continue to subsidize public transport (Zupco),”

“Grain subsidies will be removed with effect from January next year,”

$165m for drought shocks and early warning measures. Irrigation will get $422 million. Compensation 500 farmers have been paid… $380 million set aside for compensation in 2020

Women development fund allocation ZWL20 million

Empower Bank allocated ZWL20 million dollars

2020 national budget is centred on prioritizing equitable development embraced through appropriate allocation

Transport ZWL4.5 billion

Energy ZWL8.9 billion

ICT ZWL1.2 Billion

Health ZWL2 billion

On devolution, Ncube said 2.93 billion to the lower tiers of government targeting projects identified by local authorities.

National e-government programme- 341,7 million allocated towards the national e-government project

Road development program- Dualisation of Hre-Beit ZWL1 Billion

Ongoing works on trunk roads ZWL1.2 billion

feeder roads ZWL300 million

local authority ZWL510 million

Mass urban transport system- ZWL540 million subsidy to the ZUPCO subsidy policy program

ZWL8.5 Billion to Ministry of Primary and Secondary Education

ZWL2.2 Billion to Higher and Tertiary Education

To set up six innovation hubs, with resources allocated to stimulate innovation

Support for school children sanitary wear- says a ZWL200 million budgetary allocation for rural girls from grade four to form six

Export revolving fund- govt will support exporters through a ZWL20 million seed capital initially targeted at the horticulture sector before spreading to other sectors.

Government to set up a space satellite

Independent commissions including Public Service Commission, Judiciary Services Commission and many others will be allocated resources to ensure they are fully operational

Parliament allocated ZWL1.7 million to parliament

End of budget presentation….