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FINANCE and Economic Development Minister Patrick Chinamasa is expected to present the 2017 National Budget review statement in the National Assembly today.
“The Minister of Finance and Economic Development, Hon P A Chinamasa will, on the 20th of July 2017, present in the National Assembly the annual budget review statement and the 2017 economic outlook,” said Parliament in a notice.
It said the presentation is pursuant to section 7(2) (a) of the Public Finance Management Act [Chapter 22:19], which prescribes that: “… [F]or the purposes of the full discharge of the duties set out in subsection (1), the Minister shall ensure that—(a) full and transparent accounts are from time to time and not less than annually made to Parliament indicating the current and projected state of the economy, the public resources of Zimbabwe and the fiscal policy of the Government;…”
Zimbabwe’s economy is poised for robust growth this year with the latest Gross Domestic Product (GDP) projection pegged at an average 2.8 percent. The World Bank and the International Monetary Fund (IMF) have also said the country’s economic prospects are positive.
The agriculture sector is projected to register huge growth on the back of the successful 2016/17 farming season following good rains. The Presidential Input Support Scheme for communal farmers as well as the Command Agriculture scheme gave impetus to improved yields. Significant contribution is also expected to come from the growing mining and tourism sectors as well as gains from the formalisation of small to medium enterprises among others.
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