Public pre-budget meetings begin

critical role in contributing to the formulation of macro-economic and fiscal policies,” said Minister Biti.
“In this regard, the participation of all stakeholders through the provision of inputs to the formulation of the 2013 budget is invaluable.
“Treasury is, therefore, inviting all stakeholders into the 2013 Budget formulation process.”
Minister Biti said the process would begin today with a pre-budget strategy paper and the Treasury budget call circular.
Other events lined up include countrywide stakeholder consultations, provincial consultations, Ministries Budget Bids Submission and Budget Hearings and Parliamentary Pre-Budget Seminar.
“Stakeholders should, therefore, not refrain from not pointing out any omissions that they might observe in the above consultative programmes,” said Minister Biti.
“Over and above this, stakeholders can also make their views for the 2013 budget consultative process heard through the Treasury website, where this is found to be more convenient.
“It is only through broad and comprehensive inputs that Treasury will develop a budget rooted in stakeholders’ aspirations, thereby promoting overall national ownership and buy-in.”
Minister Biti said the budget should be debated in Parliament before the end of November.
In his 2012 budget, Minister Biti proposed a US$4 billion budget that he later reduced to US$3,4 billion citing depressed revenue inflows.
He also cut projected economic growth from 9,4 percent to around five percent due to less than anticipated growth in various sectors of the economy that include agriculture and mining.
Zimbabwe has adopted a cash budgeting system in which Treasury will only spend money that is generated.
The cash budgeting system has been adopted due to little external support from multi-lateral institutions that have not supported Zimbabwe since the Western countries imposed illegal sanctions.