Online Reporter
Sikhulekelani Moyo, [email protected]
The GOVERNMENT needs to continue practising fiscal discipline and increase spending on economic development, Presidential Affairs and Devolution Permanent Secretary Engineer Tafadzwa Muguti has said.
He made these comments in Harare at Alfonce Maketo’s book launch, where he congratulated the author for capturing the resilience of the Zimbabwe Stock Exchange (ZSE).
He emphasised that Zimbabwe’s economic future is promising with fiscal discipline and awareness.
Titled ‘The Cookie that Did Not Crumble’, Eng Muguti described the book as an essential resource for enhancing financial literacy and seizing economic opportunities.
“Fiscal discipline comes with the understanding that you eat what you have; it also means that I can’t eat too much because I have so much more that I want to achieve,” he said.
“This means, as a Government, we need to continue practising fiscal discipline so that we have less spending in Government and more spending in the economy. We should have the largest portion of our economic growth in the private sector.”
The Permanent Secretary stated that people should not expect the Government to provide jobs, explaining that the Government’s role is to create a conducive environment that allows businesses to thrive and generate employment.
He also highlighted the importance of sovereign discipline, as it enables people to respect their own laws. He pointed out that everyone knows it is wrong to display goods outside established shops.
“Everyone knows it’s wrong not to pay taxes and duties at the border, or to smuggle goods. You want to live well, but you know you’re supposed to pay tax,” said Eng Muguti.
“That’s the situation in Zimbabwe, where people have become so selfish, thinking that as long as my tummy is full, I don’t care about what will happen tomorrow.”
He stated that for the ZSE to function effectively, there needs to be fiscal and sovereign discipline from everyone. He urged the general public to ensure that the message of the ZSE is more prominent than ever, positioning it as an alternative investment opportunity for investors to consider.
