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Farirai Machivenyika
Senior Reporter
PARLIAMENT will this week begin feedback meetings on the 2022 national Budget to gather public input ahead of the mid-term fiscal policy review to be held in July.
Today, one meeting is scheduled for Centenary (Mashonaland Central province), two meetings in Harare, one in Binga and one in Mutare.
Other meetings will take place on Tuesday, Wednesday, Thursday, Friday and then on June 15.
The Budget review is expected to come up with policy measures to cushion the economy from internal and global economic shocks.
The feedback meetings will be conducted by the Portfolio Committee on Budget, Finance and Economic Development and the expanded Committee on Sustainable Development.
Internally, speculative behaviour has seen high inflation over the past three months driven by the exchange rate on the black market, while the Russia and Ukraine conflict has affected global trade of petroleum, fertiliser, fuel and grains.
The chairperson of the Budget, Finance and Economic Development Portfolio Committee, Dr Matthew Nyashanu, said the mid-term review was expected to come up with solutions to the challenges the country is facing.
“Several adjustments are expected on the back of current economic trends since January, so it is all about how Treasury is in a position to review the current situation for the benefit of the citizens,” he said.
With Government having already taken the lead in announcing several policy interventions to stabilise the economy, the committee is also recommending that the budget review set the tone on certainty.
Some questions regarding the budget review include whether Treasury will maintain the 5,5 percent growth forecast for this year, and whether it will adjust the tax brackets and especially the zero tax threshold in light of surging inflation.
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