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Mthuli, Mangudya To Be Weighed In Today’s Mid-term Budget Review


TREASURY which is made up of the Ministry of Finance (MOF) and the Reserve Bank of Zimbabwe (RBZ) principally Professor Mthuli Ncube and Governor Dr John Mangudya will today present the mid-term budget review this afternoon.

The two men of finance one who makes policy and the other who implements today will be weighed in the balances through their mid-term review and hopefully not found wanting considering gains from RBZ through its foreign currency auction.

The review comes at a time when the annual inflation rate has been declining, with government saying the rate declined to 56% this month, from about 106%.

However, on the ground, consumers continue to feel the heat, with price increases and foreign currency shortages continuing.

Ahead of today’s announcement, industries had said government should roll out a series of measures to address problems faced by companies.

“Our key request is that the mid-term budget should not unsettle the stability or the relative stability that we have experienced, but rather sustain it,” Sekai Kuvarika, chief executive officer of the Confederation of Zimbabwe Industries, said.

It is d-day and analysts only wish the Zimbabwean government well in tackling financial challenges.They say when elephants collide in a fight it is the grass that suffers.It is the general population that is always complaining about living on the black market rate which is unbearable yet the big businesses survive on forex allocation from the forex auction at best rates which are not translating to the ordinary person yet employers are coming home to roost.

Ross Moyo

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