Chinamasa presents mid-term fiscal policy today

HARARE - Finance minister Patrick Chinamasa is expected to present the mid-term fiscal policy statement (MTFPS) today.

The Treasury chief —  battling to secure budgetary support amid rising liquidity challenges — said he would tackle the currency issue among other topical matters.

“…there is absolutely nothing to be alarmed of…the country does not have a crisis of any manner,” he told delegates at a breakfast meeting reviewing his trip to China.

“I have said this before and will say it again, but I will repeat it today, the multi-currency system is here to stay,” he said.

“There are many issues that will be addressed because uncertainties have been peddled that need to be set straight,” Chinamasa said, adding that “his task was to clear the air on certain issues and give direction to the country”.

The statement, which will review Chinamasa’s $4,2 billion 2014 National Budget, comes as Zimbabwe’s economy deteriorates, with him lowering the year’s economic growth target to 3,1 percent from 6,1 percent.

According to the Finance minister, the downward revision of the growth projections reflect low business and investment confidence, scarce liquidity, and subdued international prices for major exports.

 

Comments (1)

What is Mid-Term? is it after six months or what? No wonder Zimbabwe is in the doldrums

Mukanya - 11 September 2014

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