LIST: 8 Times Mthuli Ncube Proclaimed A Budget Surplus Since He Became The Treasury Boss

3 years agoSat, 18 Jul 2020 07:26:41 GMT
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LIST: 8 Times Mthuli Ncube Proclaimed A Budget Surplus Since He Became The Treasury Boss

Professor Mthuli Ncube was appointed Finance Minister and assumed duty in September 2018 after the watershed July 2018 elections that controversially issued the second republic into power. Ever Since the fundi became the treasury boss, he has proclaimed surplus 8 times despite a dire economic turmoil that is seeing inflation reaching unprecedented levels for the first time since 2008.

  1. The brand new minister hit the ground running by announcing a $29 Million surplus for the month of October 2019.
  2. The Minister in December 2018 announced a $733 million surplus and he said the austerity measures he had announced were working
  3. A month later in the month of January 2019, the Economics fundi also announced yet another surplus of $113 million and again lauded his austerity measures.
  4.  In May 2019, Mthuli announced yet another surplus, Mthuli said the government had achieved close to half a billion in surplus after it attained a RTGS$443.1 million surplus for the first quarter of 2019.
  5. Treasury in the midterm budget review proclaimed yet another surplus and said, the country had attained a surplus of ZW$803,6 million between January and June 2019
  6. Overally, 2019 was a year of surpluses with Professor Mthuli as the treasury boss as he announced a cumulative surplus of $437million for the year 2019.
  7.  In March 2020, The government announced it had a ZWL $3 Billion Surplus. Already civil servants were lamenting that they were poorly paid and inflation had passed the 400% mark.
  8. A few weeks after headlining for sending an SOS to the international community saying the government coffers were dry and the country might implode, the treasury boss in July 2020 announced a Surplus of ZWL$800 million

Most of these surpluses were announced at the back of deteriorating socio-economic conditions and civil servants strikes and incapacitation calls.



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