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Finance Minister in slippery Terrain as he Presents 2019 Budget
 
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Fri, 23 Nov 2018   ||   Zimbabwe,
 

Finance Minister, Mthuli Ncube carries the hopes of a downhearted nation when he steps into parliament this Thursday afternoon to deliver his maiden 2019 budget statement.

The world renowned economist and non-politician, recently thrown at the deep end by President Emmerson Mnangagwa to clean up nearly two decades of economic mess, is aware of the task at hand.

Little however is expected of him in a constrained economy weighed down by heavy debt, high level corruption, political patronage and a monstrous appetite to spend on nearly everything by a giant bureaucracy.

Ncube has the entire nation keen to see how he hopes to tame government';s propensity to spend.

Mnangagwa has the top banker';s back, having been battling to convince the investor community that he has departed from his predecessor, Robert Mugabe';s profligacy.

During the 2019 pre-budget briefings, government advisor, Ashok Chakravati revealed that Mnangagwa';s top executives'; allowances were drawing 40 percent of the total civil service wage bill.

Ncube is keen to play the much difficult balancing act with different sectors of the economy all crying out for a generous portion of the cake.

Business, which has been buffeted by foreign currency shortages and a turbulent pricing system, is looking at nothing less than a clear strategy to stabilise the market and bring certainty to the economy.

Captains of industry have told government to stop the unnecessary blame game after authorities have fingered the sector for the price chaos and shortages of basic goods.

Just two months ago, Industry Minister Mangaliso Ndlovu said government was aiming at capacitating industry and align it to global competitiveness.

Ncube is expected to set aside a budget to meet those expectations.

Similarly, Zimbabweans will be expecting a review of the hihly controversial 2 percent tax recently imposed by the treasury boss which they say was unnecessarily burdening them with extra liabilities when they were already failing to make ends meet with what they had.

 

 

 

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