Tinashe Sambiri|CCC vice president Hon Tendai Biti has described Mthuli Ncube’s mid term budget review as a dog’s breakfast.
According to Hon Biti, the midterm budget review does not address real issues affecting the economy.
“The Minister of Finance has presented his 2022 mid term review budget statement .
It was painful to indulge in an hour of a pointless,tired monologue .An absolute damp squib.A huge opportunity was missed to address fundamental disequilibrium in the economy centered around …
..from US$60000 to US&40000 will also hit hard the informal sector .Big business is not spared .Corporates are now required to prepare two sets of accounts ,one for US$ and another for ZWL$ transactions.This a costly exercise confirming that we have become a Banana Republic.
In short this Review was a complete disaster . It betrayed the absence of a theoretical philosophical framework of its authors . It entrenched looting and arbitrage whilst unleashing cruel revenue measures . What a dog’s breakfast !!
There can never be reforms without reformers .Mthuli Ncube is no reformer. Instead his stewardship of the economy has been a complete disaster. In the name of surpluses he has run budget deficits well above 25% of GDP since 2018. He has presided over a most corrupt economy besieged by arbitrage & capture . The solution is simple , float the Zim$ ,expunge the auction&gold coin. Remove Export Surrender RequirementsPay civil servants in US$ ,fund the budget ,lower taxes ,reduce rate of interest ,resolve deficit & debt crises,Deal with corruption,” Hon Biti argued.