The Minister of Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube, says the government has used up to 44.2 percent of the approved 2024 National Budget so far.
The Office of the President and Cabinet has already spent 92% of its allocated budget. Others who have used over 50% of their budget include Transport, Finance and Agriculture
He disclosed this as he presents the 2024 Mid-Term Fiscal Policy Review Statement to parliament.
In his presentation, which is currently underway, Ncube said the projected economic growth is now 2 from 3.5 percent predicted earlier on in the year.
This is because the drought was more severe than initially expected. Agriculture will shrink -21% this year.
Apparently, he said between Jan-June 2024, Zimbabwe’s forex earnings were US$6.2 billion, 9.5% up from US$5.6bn in H1 2023.
This is largely driven by export growth and remittances.
The minister also pointed out that the government expects current account to narrow to US$44.5 million in 2024, versus a surplus of US$133.9 million in 2023.
Zwnews
Kaizer Chiefs coach Cedric Kaze has urged patience and composure after the club’s poor run… Read More
Kaizer Chiefs have suffered a major setback with two experienced players injured. Both Brandon Petersen… Read More
Premier Soccer League giants Kaizer Chiefs have reportedly set their sights on Nigeria international goalkeeper… Read More
Kaizer Chiefs’ preparations for the Soweto Derby were severely disrupted before kick-off, a reality that… Read More
Kaizer Chiefs registered a second successive victory in the CAF Confederation Cup group stages after… Read More
Across Africa, vehicle buyers and importers are discovering a new way to connect — through … Read More