Zimbabwe: "We Are On Right Path!" - Reactions to Tough Budget

Photo: The Herald
Finance Minister Patrick Chinamasa presented Zimbabwe's 2018 Budget.
7 December 2017

Some reactions to the 2018 National Budget, which was presented by Finance Minister, Patrick Chinamasa on Thursday.

Reserve Bank governor, John Mangudya tells The Source: "This is a pro-business budget that will promote investment. This budget is saying Zimbabwe is open for business. This is why government is now redefining the indigenisation act by only leaving two products in the list; platinum and diamond. The rest of the industry it means any foreign investor, any Zimbabwean can come and invest.

This is an investment led budget which will increase production, employment, exports and the welfare of the people in Zimbabwe

The people who have been externalising funds were driven by lack of confidence, therefore, when you improve investment climate the money comes back. If business is improved there is no need for externalisation."

Joe Mutizwa, business leader via Twitter: Must applaud Minister Chinamasa for striking the right note and making some tough but long overdue choices on cost containment and easing of indigenization regulations.It is vital that the projected budget deficit is not exceeded.We are on right path!"

Confederation of Zimbabwe Industries national vice president and Matanuska finance director Richard Chiwandire says: "It's pro business and pro development. We are very optimistic that it will stimulate economic growth. There is also financial discipline on the side of government shown by its commitment to cut its expenditure."

Centre for Research Development director James Mupfumi: "(Patrick) Chinamasa made significant promises to cut down government recurrent expenditure in his budget statement today.We are hoping to see funds being directed to meet developmental needs of the society and service delivery.What also remains important is the enactment of policies that promote transparency and accountability in the key institutions of governance."

Morgan Dube, who is Victoria Falls Combined Residents Association chairperson feels the allocation of funds for building of vocational training colleges in the budget is a noble idea as this will empower communities.

Youths in Victoria Falls and Hwange, the country's tourism hub, were failing to get employment in the tourism sector because of lack of skills, he says.

"Victoria Falls needs a vocational training college as a matter of urgency. We are a tourism hub but our children cannot get jobs because we have no tourism school hence those elsewhere are employed. If we had a choice we would say the Minister should start with a tourism training school in Victoria Falls."

See What Everyone is Watching

More From: The Source

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.