Breaking News

MDC-T applauds Biti's Mid Term Fiscal Policy statement

by Mafu Sithabile
27 July 2011 | 1063 Views
Morgan Tsvangirai led MDC-T applauds the Mid-Term Fiscal Policy review statement that was delivered yesterday in Parliament by Finance Minister, Tendai Biti as it will go a long way in improving the lives of the ordinary people, create employment and promote economic growth.

MDC-T alleges that Biti's pro-poor announcements will see an increase in the harvest of the country's staple food – maize; a boost in the economy through an increase of production in the agriculture and mining sectors; economic growth by 9.3 percent and inflation ending at 4.0 percent - lower than the initial forecast of 4.5 percent on the back of improved production and fiscal discipline.

MDC-T commends the Minister on drastically trimming down government expenditure, especially the procurement of luxury vehicles and overseas travel by senior government officials.

"We complement Minister Biti's move to allocate a US$40 million revolving fund to protect local manufacturers and $20 million for the Small and Medium Enterprises (SME) support. The funds will help resuscitate the ailing local industry and create the much needed employment" said the statement.

However, MDC-T is concerned by continued lack of transparency in the mining industry with diamonds sales being at the highest level of unaccountability. Leakages in diamond sales and a failure to account for the mined resource is a great cause for concern. It is very worrying that more than 700 000 diamond carats were exported since the beginning of the year but revenues declared do not tally with the exports.

Only $103.9 million of an expected amount of more than $2 billion was realised by the government from the mineral resource.

We call for transparency, accountability and honesty in the sale of all mineral resources in the country and money generated from the sales should be forwarded to the Treasury to improve the socio – economic status of this country thus positively impacting the lives of the people of Zimbabwe.




MDC-T remains worried that violent tendencies and the grab – it mentality of Zanu-PF continues to hamper further economic progress as investor confidence continues to wane. The level of political immaturity and lawlessness exhibited by Zanu-PF is a big hindrance in the positive development of this country.

There is need for the full compliance of Zanu-PF to the Global Political Agreement to pave way for necessary reforms including security sector re-alignment, media plurality; respect of the rule of law as well as national healing and reconciliation to make Zimbabwe work again.


Budget Review

Source: Byo24News

Will Grace succeed Robert Mugabe?

Yes
22.22%
No
77.78%
Not sure
0%
9

Comments

News Updates

Email:

Latest News

Tribalism storm hits Chronicle

by Moyo Roy | 27 July 2014 | 5052 Views

Wife of Cameroon's vice prime minister kidnapped by Boko Haram - Three...

by Staff Reporter | 27 July 2014 | 3416 Views

This and that with Mal'phosa - Izali Beula i-Sewula

by Clerk Ndlovu | 27 July 2014 | 1320 Views

Sunday women matters with Blondie - Thought for that toiling Zimbabwean woman

by Lorraine Blondie Sibanda | 27 July 2014 | 1111 Views

Water crisis hits Kamativi - WhatsApp update

by WhatsApp update | 27 July 2014 | 883 Views

Two die in horrific accident - WhatsApp update

by Concerned Citizen | 27 July 2014 | 3188 Views

Zim political violence re-surfaces, property worth $2000 burnt - A Zan...

by Staff reporter | 27 July 2014 | 2419 Views

Man smashes baby to death on a rock, escapes jail - A ZIMUNYA man who ...

by Staff reporter | 27 July 2014 | 1586 Views

Grace Mugabe attacks Tendai Biti - PRESIDENT Robert Mugabe's wife, Gra...

by Staff reporter | 27 July 2014 | 3821 Views

Man goes to hospital for circumcision, wakes up with no penis - An Ala...

by Staff reporter | 27 July 2014 | 3278 Views

I will not concede defeat to Mugabe - Tsvangirai

by Staff Reporter | 27 July 2014 | 2588 Views

Will Grace succeed Robert Mugabe? - First Lady Grace Mugabe's formal e...

by Staff reporter | 27 July 2014 | 2242 Views

Chinotimba named legislator of the month - A weekend newspaper has...

by Staff reporter | 27 July 2014 | 1192 Views

'Let's talk,' Tsvangirai begs Mugabe - MDC-T leader Morgan Tsvangirai ...

by Staff reporter | 27 July 2014 | 2453 Views

Grace Mugabe's appointment sends major shockwaves in Zanu-PF - First L...

by Patrice Makova and Moses Matenga | 27 July 2014 | 2875 Views

Mugabe sanctions to be reviewed in February next year - The European U...

by Staff reporter | 27 July 2014 | 800 Views

Zimbabwe workers brace for mass street protests - The Zimbabwe Congres...

by Staff reporter | 27 July 2014 | 1959 Views

Govt admits failing to provide funds for vital drugs

by Staff Reporter | 27 July 2014 | 553 Views

Bosso and others move to Hartsfield Rugby Ground - BULAWAYO football f...

by Ngqwele Dube | 27 July 2014 | 1713 Views

Public smokers face $500 fine or 6 months jail term - MINISTRY of Heal...

by Staff reporter | 27 July 2014 | 1640 Views

Zim hospitals fail to pay for contraceptives - GOVERNMENT health insti...

by Staff reporter | 27 July 2014 | 514 Views

Mugabe 'okayed' Jonathan Moyo's interrogation by cops

by Staff Reporter | 27 July 2014 | 2279 Views

Man kills cousin over amacimbi and isitshwala supper

by Thulani Ndlovu | 27 July 2014 | 1239 Views

Over 100 school girls fall pregnant

by Staff Reporter | 27 July 2014 | 1346 Views

School bars pupils from taking mid-term exams over school fees

by Ngonidzashe Chiutsi | 27 July 2014 | 955 Views

Malema in bid to shut down businesses in Johannesburg

by Staff Reporter | 27 July 2014 | 2000 Views

Ministry of Mines double pegging claims

by Staff Reporter | 27 July 2014 | 768 Views

Woman (30) buries newborn baby alive

by Sukulwenkosi Dube | 27 July 2014 | 1412 Views

Entertainment

Gospel singer wants prostitution to be legalised - Controversial gospe...

by Staff reporter | 27 July 2014 | 1799 Views

Zimbabwean boy revels in Soul Brothers music

by Lovemore Dube | 26 July 2014 | 5224 Views

Carl Joshua Ncube to tour with brand new material - The brand new stan...

by Staff Reporter | 24 July 2014 | 872 Views

Macheso gears up for UK tours - In an apparent joint preparation for t...

by Entertainment reporters | 23 July 2014 | 1705 Views

DJ Munya is back - After a two-year hiatus, DJ Munya - real name Munya...

by Entertainment Reporter | 23 July 2014 | 2950 Views

White guy plays chitekete - https://www.youtube.com/watch?v=kp16XF-Tcf...

by Staff Reporter | 23 July 2014 | 4795 Views

Beyonce and Jay Z to separate - claims - Jay Z and Beyonce are reporte...

by Staff reporter | 22 July 2014 | 3977 Views