Breaking News

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

by Mafu Sithabile
27 July 2011 | 747 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

Comments

Latest News

Female cop begs colleague to wear condom before being raped - A female...

by Staff rerporter | 04 May 2016 | 4700 Views

Mphoko, Mnangagwa fight over Joshua Nkomo

by Staff reporter | 04 May 2016 | 2860 Views

Watercolor artist to showcase artwork at Zim Achievers

by Tidi Kwidini | 04 May 2016 | 513 Views

Bosso top striker dragged into match-fixing scandal - HIGHLANDERS top ...

by Sports writer | 04 May 2016 | 1813 Views

Addressing people's anger is the answer, not muzzling the media - As t...

by Tendai Ruben Mbofana | 04 May 2016 | 664 Views

Obscure multi-currency usage blamed for cash shortages -RBZ - The Rese...

by Staff reporter | 04 May 2016 | 1112 Views

Queen Elizabeth's mother visited disputed top Mugabe's aide farm - COL...

by Itai Mushekwe | 04 May 2016 | 1939 Views

MP Cross calls for alignment of 400 Acts to new constitution - to what...

by Wilbert Mukori | 04 May 2016 | 429 Views

First Sci-fi novel in Shona relaunched - Muna Hacha Maive Nei? The fir...

by Belontos Books | 04 May 2016 | 346 Views

The Truth: Christians created to rule - For years now I have been aski...

by Khumbulani Maphosa | 04 May 2016 | 593 Views

Zim Ministers in a magical economic double act to half civil servants ...

by Patrick Guramatunhu | 04 May 2016 | 845 Views

Tsholotsho ghost haunts Mnangagwa - CHIREDZI - Former Zimbabwe Sugar M...

by Staff reporter | 04 May 2016 | 1522 Views

'Mugabe must retire' - FORMER Zanu-PF Hurungwe West MP Temba Mliswa ha...

by Staff reporter | 04 May 2016 | 1052 Views

'Mnangagwa sabotaged' - ZANU-PF factional fights have been blamed for ...

by Staff reporter | 04 May 2016 | 1069 Views

Man accuses wife of 'locking' his penis - A Harare man, Trymore Mangez...

by Staff reporter | 04 May 2016 | 1238 Views

Mnangagwa, Mphoko cause scene at ZITF - VICE-President Emmerson Mnanga...

by Staff reporter | 04 May 2016 | 1625 Views

Lions stalk Bikita village - A PRIDE of lions is wreaking havoc in Bik...

by Walter Mswazie | 04 May 2016 | 792 Views

MDC-T march: attempt at covering up Bulawayo rot - THE planned MDC-T m...

by Nduduzo Tshuma | 04 May 2016 | 616 Views

'Zimbabwe lags behind in mining technology' - MINES and Mining Develop...

by Staff reporter | 04 May 2016 | 215 Views

National Pledge gets mixed response - THERE was a mixed response on th...

by Staff Reporters | 04 May 2016 | 403 Views

Bonus joy for teachers - THE government has paid teachers their 2015 b...

by Nqobile Tshili | 04 May 2016 | 1085 Views

Amazulu entice Joey Antipas - CHICKEN Inn coach Joey Antipas says he h...

by Grace Chingoma | 04 May 2016 | 552 Views

Angry residents burns thugs to death

by Staff Reporter | 04 May 2016 | 1461 Views

Tendayi Darikwa's finest hour - ZIMBABWE will have a footballer in the...

by Robson Sharuko | 04 May 2016 | 758 Views

National Pledge: 'Christian' outrage unjustified - The livid reactions...

by Gwinyai Mutongi | 04 May 2016 | 507 Views

Entertainment

Tupac's mother, Afeni Shakur Davis, dies at 69

by Staff Reporter | 04 May 2016 | 1495 Views

'Ekhweni lami' a classic value for money project

by Vusmann | 03 May 2016 | 960 Views

Macheso relishes SA tour - "We have performed in South Africa before, ...

by Tawanda Marwizi | 03 May 2016 | 1129 Views

Maita crowned Miss Africa Zimbabwe - Harare beauty, Maita Kainga was c...

by Bongani Ndlovu | 02 May 2016 | 1743 Views

1ns and 2s with DJ-Sticha - Know your song Mondays

by DJ-Sticha | 02 May 2016 | 1561 Views

Interview with musician Lyfe Martinez

by Staff reporter | 01 May 2016 | 1951 Views

Busi Mhlanga flies Zimbabwe flag high in foreign lands

by Mafu Sithabile | 29 April 2016 | 6600 Views