Breaking News

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

by Mafu Sithabile
27 July 2011 | 1191 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

Are housemaids an evil lot?

Yes
26.94%
No
64.49%
Not sure
8.57%
490

Comments

News Updates

Email:

Latest News

Come back to the BIG TENT Hon W Ncube, Hon T Biti and the whole Team -...

by Prof Richard M Simango | 21 December 2014 | 1728 Views

Central bank monitoring suspicious transactions

by Business Reporter | 21 December 2014 | 1501 Views

We are not mortgaging minerals says Chinamasa

by Staff Reporter | 21 December 2014 | 793 Views

Cde Dabengwa, how can you not speak against Gugurahundi architectures ...

by Nomazulu Thata | 21 December 2014 | 3143 Views

Pakistan executes four more militants -  Lahore - Pakistan on Sun...

by Staff Reporter | 21 December 2014 | 1042 Views

US to review North Korea terror status - Washington - The United State...

by Staff Reporter | 21 December 2014 | 770 Views

Nine companies prosecuted for selling contaminated fuel

by Staff Reporter | 21 December 2014 | 2015 Views

Mugabe axes seven more ministers - Seven more parliamentarians have be...

by Staff Reporter | 21 December 2014 | 8684 Views

Woman walks in on daughter having sex with boyfriend - A WOMAN from Co...

by Gibson Mhaka | 21 December 2014 | 5746 Views

Man draws out sword in street fight - IMBIBERS at Enkundleni Bottle St...

by Staff Reporter | 21 December 2014 | 2153 Views

This and that with Mal'phosa - Those that fell from Grace - Well it's ...

by Clerk Ndlovu | 21 December 2014 | 2233 Views

Nyabadza Children's Trust Donates Soccer Balls to Future CR7s

by Staff Reporter | 21 December 2014 | 998 Views

Thieving teen tells court 'everyone' steals - A DARING Silobela teen...

by Staff Reporter | 21 December 2014 | 3366 Views

Man circumcises sons with nail-cutter

by Staff Reporter | 21 December 2014 | 2180 Views

90-year-old 'witch' caught after failing to eat baby - STORIES of wi...

by Nhlalwenhle Ncube | 21 December 2014 | 4347 Views

Why are civil servants treated unequal? - 02:34, 21 Dec - ‪+263 7* *...

by Concerned civil servants | 21 December 2014 | 2759 Views

'Econet opera bundles, fraud at its highest' - Please note that Bulawa...

by Concerned Citizen | 21 December 2014 | 2621 Views

Gushungo ML with GP number plates - Photos

by Staff Reporter | 21 December 2014 | 6456 Views

Warriors 'could have interesting times ahead,' says Khama Billiat - Ma...

by Staff Reporter | 21 December 2014 | 1988 Views

Goche war reports, a pack of lies - THE factional fighting in Zanu PF ...

by Staff Reporter | 21 December 2014 | 4052 Views

Nhema, Buka blocked from greeting Mnangagwa

by Staff Reporter | 21 December 2014 | 4483 Views

US$30 billion economy can be grown in Vic Falls - Mzembi

by Staff Reporter | 21 December 2014 | 1695 Views

Dabengwa refuses to talk about Mnangagwa's role in Gukurahundi

by Staff Reporter | 21 December 2014 | 3059 Views

VP Mnangagwa assassination plot: Forensic detectives called in

by Kuda Bwititi | 21 December 2014 | 2735 Views

Unqualified teachers' future hangs in the balance

by Tinomuda Chakanyuka | 21 December 2014 | 2868 Views

Time for a Revolution for Women in Zimbabwe : No more Delay - Violenc...

by Minenhle Gumede | 21 December 2014 | 1019 Views

'We demand human rights in Matabeleland South' - Prominent Matabelelan...

by Staff Reporter | 21 December 2014 | 1249 Views

'Gold panners' murder soldier, chops body into pieces - A GWERU soldie...

by Munyaradzi Musiiwa | 21 December 2014 | 2409 Views

Gwanda runs dry again

by Staff Reporter | 21 December 2014 | 1233 Views

Entertainment

Visually impaired singer gets early Christmas present

by Staff Reporter | 19 December 2014 | 2075 Views

Tuku fails to secure seat on Air Zimbabwe

by Staff Reporter | 19 December 2014 | 3374 Views

Mafikizolo jets into Zimbabwe today

by Brenda Phiri | 19 December 2014 | 1805 Views

Sony cancels US release of movie about plot to kill North Korean leader

by Staff Reporter | 18 December 2014 | 2147 Views

Designer sale off 2014

by Hunnar Agency | 18 December 2014 | 3259 Views

10 Zim designers to feature in iFashion Fest 2014

by Hunnar Management Agency | 18 December 2014 | 3123 Views

Kunonga releases fourth album, Kwedu - AFRO-JAZZ singer Victor Kunong...

by Staff Reporter | 18 December 2014 | 1065 Views

Ibumba roars into life with Tuku expected to headline the event - THE ...

by Simbarashe Mutizwa | 16 December 2014 | 1506 Views
iBlog

Advanced Systemcare Free To Optimize The Os Still Support Xp

the update systemcare free 7.3.0.456 (a set of tools to optimize the operating system) – now available.advanced systemcare is a free package to optimize, tweak, fix bugs and improve the overall performance of the operating system.the program anal... Read More
ITnews 02 June 2014 ago

Four In 10 Americans Face Regular Online Fraud Attacks

Microsoft offers four primary tips to help protect users from identity theft:• be selfish and defensive with personal information by not sharing sensitive details in emails, and instant and text messages• create, use and keep secret so-called “... Read More
SecNews 24 October 2014 ago