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Zimbabwe says it is on course to meet budget deficit target

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Finance minister Mthuli Ncube will not seek additional funding this year

Zimbabwe's finance minister Mthuli Ncube. Picture: BLOOMBERG/CYNTHIA R MATONHODZE

Ncube said he would not seek additional funding this year because the National Treasury had spent less than half of its budget, despite pressure from the Covid-19 pandemic. Economic analysts are worried that President Emmerson Mnangagwa’s government is trying to balance the budget at the expense of spending more on social services and the health sector, even as it grapples with coronavirus infections.

The government has spooked investors by temporarily shutting the stock exchange, saying it was being used to sabotage the economy.

 

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Zimbabwe on course to meet 2020 budget deficit target, says finminZimbabwe's finance minister Mthuli Ncube said the country was on track to meet its budget deficit target of 1.5 percent of GDP in 2020.
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