Act on economy, stop wishing and praying, Mangudya told

By Nkanyiso Ncube Shurugwi South legislator Edmond Mkaratigwa has told Reserve Bank governor John Mangudya to act on the economy by introducing meaningful measures and stop wishing and praying for inflation to go down. According to Mkaratigwa, all he is hearing from the RBZ boss were wishes and prayers which he said will not inspire …

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200 firms to blame for cash shortages, says Mangudya

Staff Writer Reserve Bank of Zimbabwe governor John Mangudya has said half of the money in the formal banking system is owned by 200 firms, a development he said was weakening the value of the local currency on the parallel market. This week the Zimbabwe dollar traded at 29:1 against the United States dollar as …

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Desist from using US$, its illegal, says Mthuli Ncube

Finance and Economic Development Minister Mthuli Ncube has told Parliament that Zimbabweans should desist from using US dollars when conducting transactions locally, adding that it is illegal to do so. Minister Ncube made the call when he was answering a question from Hatfield legislator Honourable Tapiwa Mashakada who was seeking to understand the rationale behind …

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Understanding the Parliamentary Budget Process

The Budget Process Parliamentary budget oversight is at the heart of Executive oversight. Strong Parliamentary budget oversight is one of the mechanisms to promote a socially accountable governance system. Importance of the Budget The budget governs the allocation of scarce resources. A budget is a plan for acquiring resources (revenue) and how these resources will …

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Air Zim will take-off in 2020 says Mthuli

By Staff Reporter Finance Minister Mthuli Ncube has told Parliament that the struggling national carrier Air Zimbabwe will take-off in 2020 and will be having about 4 aircraft. Air Zimbabwe is currently operating one aircraft which is said to be old and is constantly breaking down forcing the airline to cancel or delay flights. Apart …

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Mthuli agrees to set aside equipment budget for defence in forex

By Staff Reporter Finance Minister Mthuli Ncube has agreed with Parliament to set part of the defence budget in foreign currency adding that the call is genuine. Legislators argued that since Air Force of Zimbabwe requires various materials and equipment which are not manufactured in the country there was a need to set part of …

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Guvamatanga was in SA looking for material for police uniforms

By Staff Reporter Permanent Secretary in the Ministry of Finance and Economic Development George Guvamatanga was recently in South Africa looking for material to make police uniforms. This was revealed by Minister Mthuli Ncube in the National Assembly during the 2020 National Budget where some legislators have been calling for improved conditions of service for …

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Include forex on Defence budget for 2020: Mayihlome

By Staff Reporter Portfolio Committee on Defence, Security and Home Affairs chairperson Levi Mayihlome has called on Finance Minister to consider including foreign currency on the budget allocation for defence in 2020 arguing that there might need to buy warplanes and their spare parts from outside the country. Speaking during the 2020 budget debate in …

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Mthuli refuses to increase CDF from ZW$175k

By Staff Reporter Finance and Economic Development Minister Mthuli Ncube has refused to increase the Constituency Development Fund (CDF) from the current ZW$175 000 arguing that the amount is adequate if it is effectively used. The concept of the CDF was introduced during the time of the inclusive government with the aim of enabling legislators …

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