Articles tagged 'budget'

Govt makes U-turn on retrenchments 1 December 2018 HARARE - Finance minister Mthuli Ncube has now said there would be no mass layoffs of public sector workers because government has no money to bankroll retrenchment packages. He said government will now consider other ways to pull the economy out of a recession that has rattled investor confid...
Mixed reactions to 2019 budget 25 November 2018 HARARE - Following Finance minister Mthuli Ncube's 2019 National Budget presentation on Thursday, reporters from the Daily News on Sunday — Nokuthaba Nkomo and Brighton Goko — took to the streets of Harare to get reactions from members of the public. This is what some of them had to say: ZODWA...
Fuel price hike looms 23 November 2018 HARARE - Long-suffering Zimbabweans must brace for a fuel price hike after Finance minister Mthuli Ncube increased excise duty on diesel and petrol yesterday by seven cents and 6,5 cents per litre respectively — with effect from December 1, 2018. This comes as the country is presently battling...
Lack of funds stalls health projects 3 November 2017 HARARE - The Health ministry has failed to implement projects they had been earmarked to improve the health sector in Zimbabwe, owing to poor resource allocation by Treasury, an official said. Speaking before a Parliamentary Portfolio Committee on Health, Health ministry permanent secretary Ge...
Biti savages Chinamasa 19 October 2017 HARARE – Former Finance minister Tendai Biti is of the view that his successor, Patrick Chinamasa, should take the blame for the economic crisis that followed the liquidation of the government of national unity in 2013. A lawyer by profession, Chinamasa took over from Biti — also a legal pract...
Parliamentarians owed $15m in allowances 19 October 2017 HARARE - Members of the National Assembly and Senators are demanding $15 million in amounts owed to them for sitting allowances that have not been paid since the commencement of the present 8th Parliament in 2013.  There are 275 National Assembly legislators and 80 senators. Each parliamentari...
MPs threaten to sink 2018 budget 19 October 2017 HARARE - Legislators across the political divide have threatened the sink the 2018 National budget if they don't get a five-fold increase in their allowances. They said they will hold assent to the two Money Bills that be tabled by Finance minister Ignatius Chombo until their sitting allowance...
Manyenyeni calls for Harare City budget cut, again 9 June 2017 HARARE - Harare mayor Bernard Manyenyeni (pictured) has called the Harare City Football Club's $2 million yearly budget a luxury which council can no longer afford. In an interview with the Daily News, Manyenyeni said the budget should be revised down pending an improvement in service delivery...
Harare City budget slashed 15 April 2017 HARARE - Harare City Football Club could be headed for lean times after the city's mayor on Thursday drastically reduced the team's spending by over 75 percent. The council's sports budget had previously been set at $5,5 million with the Sunshine Boys receiving a $2 million vote. However, t...
Parliament holds post-budget seminar 23 December 2016 HARARE - Parliament will hold its customary post-budget seminar in Harare. This is a break with tradition, where legislators have travelled to the Elephant Hills in Victoria Falls for post-budget deliberations. “I have to inform the House that a post-budget seminar will be held for members ...
MDC to reluctantly pass 'shoddy' budget 17 December 2016 HARARE - Opposition MPs will next week grudgingly pass the 2017 national budget in Parliament against a slew of objections, including a poor health sector allocation, among other concerns. Apart from the measly $281 million allocated to the Health ministry, of which $220 million will be gobble...
National Budget: Brace for bad times in 2017 9 December 2016 HARARE - Under-pressure Finance minister Patrick Chinamasa has painted a gloomy outlook for Zimbabwe's struggling economy, steeply revising downwards the country's 2016 growth prospects from the previously hoped for 2,7 percent to a mere 0,6 percent — as Zim's political rot continues unabated. ...
Chinamasa faces tough juggling act 21 November 2016 HARARE - Finance minister Patrick Chinamasa is caught between a rock and a hard place as he prepares a national spending plan that must rein in government's profligate consumption without derailing economic growth. With his 2017 National Budget coming up on December 8, economic analysts and bu...
'Budget full of heroic assumptions' 7 December 2015 HARARE - Respected economist and director of the Labour & Economic Development Research Institute of Zimbabwe (Ledriz)  Godfrey Kanyenze shares his views with the Daily News Senior Assistant Editor Guthrie Munyuki on the recently unveiled 2016 National Budget and other economic issues and below a...
Mining output to increase by 2,4pc 30 November 2015 HARARE - Zimbabwe's mining output is expected to grow by 2,4 percent in 2016 buoyed by increased output in gold, chrome, coal, nickel, platinum and diamonds, a Cabinet minister has said. Presenting his 2016 National Budget on Thursday last week, Finance minister Patrick Chinamasa said the sect...
Govt to inject more bond coins 28 November 2015 HARARE - Zimbabwean policymakers have revealed plans to pump $6 million worth of bond coins into the national economy, triggering widespread cheer. Reserve Bank of Zimbabwe governor John Mangudya introduced the new “bond coins” in December last year. They are named after a $50 million bond ...
We'll no longer pay trust school teachers - Govt 28 November 2015 HARARE - The cash-strapped government will in January stop paying salaries for teachers employed at trust schools, Zimbabwe's finance minister has said. Presenting his 2016 National Budget to a joint sitting of Parliament in the National Assembly on Thursday, Treasury chief Patrick Chinamasa s...
Chinamasa tables smaller 2016 budget 27 November 2015 HARARE - Finance minister Patrick Chinamasa yesterday presented a slightly smaller 2016 national budget in a clear sign that the country is curbing expenditure because of a deepening liquidity crunch. Next year's budget was set at $4 billion down from this year's $4,1 billion spending plan. ...
2016 National Budget: What Zim needs 26 November 2015 HARARE - As the country prepares for the presentation of the 2016 National Budget, it is hard to imagine any period in the history of this country when the economy has been in such a structural comatose and disequilibrium. [GoogleAd] Never too has economic failure and fatalism been hid and ...
Chinamasa must do a balancing act 26 November 2015 HARARE - Fiance minister Patrick Chinamasa has once again been presented with a unique opportunity to revive the economy with strong policies that may give a new impetus to the country's ailing industry when he presents the 2016 National Budget today. Although Chinamasa is faced with a Hercule...
Govt awards extra $468m to ministries 27 September 2014 HARARE - Government has awarded its ministries an extra $468 million, with the Agriculture ministry getting the biggest chunk of $236 635 000. In a general notice 250 of 2014 published in the Government Gazette yesterday, Finance minister Patrick Chinamasa through the Appropriation (Supplement...
Govt authorises $400m budget overrun 4 February 2014 HARARE - Government has authorised a $400 million budget overrun for 2013 through a statutory instrument. Patrick Chinamasa, minister of Finance and Economic Development, has drafted the Financial Adjustments Bill 2014, seeking to condone government’s $389 871 000 unauthorised expenditure for ...
Biti breathes fire 24 January 2014 HARARE - Zimbabwe remains caught up in a crisis that is weighing down heavily on economic turnaround efforts, former Finance minister Tendai Biti has said. Out of the $4 billion national budget presented last month, Finance minister Patrick Chinamasa indicated that $3,5 billion would go toward...
2014 budget hangs in balance 24 January 2014 HARARE - Funding Zimbabwe's $4,1 billion 2014 National Budget will be a tough task as government's revenue collections continue to shrink, analysts say. This comes as President Robert Mugabe's administration — which failed to secure external budgetary support or bail out packages from internat...
Biti's 'Eat what you kill' cliche vindicated 22 January 2014 HARARE - When Tendai Biti was minister of Finance in the coalition government, he became the pantomime villain of Zanu PF, accused of withholding funds in order to sabotage the party’s programmes. President Mugabe would condemn his Finance minister in public as people realised the folly of asc...