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The Minister of Finance and Economic Economic Development, Professor Mthuli Ncube has announced that the Mid-Term Budget And Economic Review is scheduled for next week on the 29th. In a statement, Ncube said:
<blockquote>The public and all stakeholders are advised that the Minister of Finance and Economic Development, Hon. Prof. Mthuli Ncube, will be presenting the 2021 Mid-Term Budget and Economic Review to Parliament on Thursday 29th July 2021, starting at 1400hrs.
In light of the subsisting Covid-19 guidelines, the presentation will be largely virtual, and will be broadcast on mainstream Radio and Television stations as well various online streaming platforms.
Please be guided accordingly.</blockquote>
The aim of the mid-year reviews is to improve the effectiveness of resource allocation during the fiscal year.
Next week’s presentation comes as the government is claiming that the economy is recovering despite the effects of the coronavirus.
The recovery and growth narrative was echoed by the International Monetary Fund (IMF) attracting criticism from former Finance Minister Tendai Biti.
The MDC Alliance Vice President said there was no recovery or growth in the country and <a href="https://news.pindula.co.zw/2021/07/10/biti-blasts-naive-imf-over-economic-growth-predictions/">IMF was naive and also enabling an autocratic regime.</a>
Zimbabwe banks recovery in the mining, manufacturing and electricity generation sectors among others.
More: <a href="https://news.pindula.co.zw">Pindula News</a>

Pindula News

Mid-Term Budget And Economic Review Next Week - Treasury

The government is reportedly in the final stages of acquiring 100 ambulances in a bid to improve service delivery at public health institutions, the Chronicle reports
This was revealed by Mthuli Ncube yesterday while he was presenting the mid-term budget review statement when he lamented the delay and attributed it to a slow tender process:
<blockquote>I have noted the concerns from the local parliamentarians, (Nguluvhe and Maboyi). Let me also advise you that we are at the final stage of acquiring 100 ambulances. We should have done this last year but the tender process took longer than expected and was only finalised recently.
The idea is to deliver at least five or seven ambulances to each province with priority being areas like Beitbridge and Plumtree which handle a high volume of human traffic from Botswana and South Africa respectively.</blockquote>
Mthuli also said the government was prioritising health services delivery and went on to give permission to local authorities to use devolution funds to build schools and clinics as he said the government noted that there was a shortage of both.
More: <a href="https://www.chronicle.co.zw/govt-finalises-acquisition-of-100-ambulances/">Chronicle </a>

Govt Acquires 100 Ambulances - Report

Finance and Economic Development Minister Mthuli Ncube presented the 2020 Mid-Term Budget review this Thursday.
A big influence in this year’s Mid-Term review is COVID-19 which was mentioned nearly 100 times in the 136-page document.
The Minister of Finance detailed the impact of COVID-19 along with government’s response measures.
<a href="https://t3n9sm.c2.acecdn.net/wp-content/uploads/2020/07/2020-MID-YEAR-BUDGET-REVIEW-AND-ECONOMIC-REVIEW.pdf" rel="noopener noreferrer" target="_blank">DOWNLOAD THE 2020-MID-YEAR-BUDGET-REVIEW-AND-ECONOMIC-REVIEW</a>
<a href="https://t3n9sm.c2.acecdn.net/wp-content/uploads/2020/07/2020-MID-YEAR-BUDGET-REVIEW-REVENUE-MEASURES.pdf" rel="noopener noreferrer" target="_blank">DOWNLOAD 2020-MID-YEAR-BUDGET-REVIEW-REVENUE-MEASURES</a>
<a href="https://t3n9sm.c2.acecdn.net/wp-content/uploads/2020/07/2020-Mid-Term-Review-Slides.pdf">DOWNLOAD 2020-Mid-Term-Review-Slides</a>

DOWNLOAD: 2020 Mid-Term Budget Review

<blockquote>VISET Expectations on Mid Term Budget Review By. Minister of Finance
The Vendors Initiative for Social and Economic Transformation (VISET) takes note of the Mid Term Budget Review presentation to be done by Minister Mthuli Ncube on 16 July 2020.
In a report by the IMF in 2018, Zimbabwe was said to have the second-largest informal economy, as a percentage of its total economy. Indeed some statistics indicate that the informal sector makes up as much as 68 per cent of GDP.
It is our hope that the Minister in his statement tomorrow will be guided by such statistics, as it is very much a fact that most of the economy resides in the informal.
As VISET, we have certain expectations that we believe should be addressed by the Minister, in particular as his review comes at a time the nation and indeed the world is grappling with the Covid-19 pandemic.
The advent of the disease has seen economic carnage wrought across the board and the informal sector in Zimbabwe has borne much of the damage.
In light of this, here are what we hope will be included in the Minister’s review;
1. Cushioning Fund/Restocking 
As local authorities reopen Informal Traders Markets, it is our belief that the Minister should allocate an amount that enables traders to restock, as most have exhausted business earnings over the shutdown period. The cushioning fund that had been previously announced at the beginning of the lockdown has yet to be received by the intended recipients.
2. Infrastructural Fund 
The advent of the Covid-19 pandemic necessitates the exercising of hygienic practices, along with social distancing. Currently, most trading places throughout the country have facilities that are woefully inadequate for these times. Provision of running water is vitally important along with paved market stalls if the disease is to be contained.
3. Import substitution fund 
With the closure of the country’s borders, most traders have been hit hard by the inability to source goods for resale.
We hope the Minister will allocate an amount for the local industry to be able to procure/produce raw materials locally.
According to the World Trade Organisation, global trade is set to decline by 13-32 % and that most countries will enact protectionist policies that will restrict exports of certain products.
This makes it highly incumbent upon countries to promote domestic production.
4. Review of the tax regime
There can be no doubt that the introduction of the 2 per cent tax is a great inhibitor for business, in particular, those in the informal sector.
It is our belief that the Minister review this tax, along with the entire tax regime as part of COVID-19 mitigatory measures.
5. Capacitation 
The mandatory requirement for masks and sanitizers presents an opportunity for the government to capacitate the informal sector for the production of these products as this will ensure greater reach for distribution in local communities.
6. Review of the National Social Security Authority
The ravages of the Covid-19 pandemic have brought to the fore the inadequacies of the National Social Security Authority (NSSA).
It is our prayer that the Minister will undertake a review to ensure inclusion of the informal sector in NSSA operations so that they may make contributions at concessionary levels and can be cushioned in the event of loss of income as happened under lockdown.
7. Healthcare stimulus package
The Covid-19 pandemic has exposed the fragility of our healthcare system.
It is incumbent upon the Minister of Finance to ensure that all measures are undertaken to address concerns by health care personnel, including but not limited to remuneration, provision of personal protective equipment and testing facilities.
These people at the frontline of this deadly disease must be empowered if the fight against it is to succeed.
6. Review of the National Social Security Authority
The ravages of the Covid-19 pandemic have brought to the fore the inadequacies of the National Social Security Authority (NSSA).
It is our prayer that the Minister will undertake a review to ensure inclusion of the informal sector in NSSA operations so that they may make contributions at concessionary levels and can be cushioned in the event of loss of income as happened under lockdown.
7. Healthcare stimulus package 
The Covid-19 pandemic has exposed the fragility of our healthcare system.
It is incumbent upon the Minister of Finance to ensure that all measures are undertaken to address concerns by health care personnel, including but not limited to remuneration, provision of personal protective equipment and testing facilities.
These people at the frontline of this deadly disease must be empowered if the fight against it is to succeed.
Conclusion
VISET believes that consultative decision making is key to progress and it is our hope and prayer that policymakers do away with a top-down approach and begin to consult widely before coming up with policies.
We stand ready to engage with any government department or ministry to the betterment of not only our sector but the country.</blockquote>

Vendors' Expectations On Mid Term Budget Review {Full Text}

Former Finance Minister Tendai Biti said nothing progressive can be expected from the mid-term budget review set to be presented this Thursday by Treasury boss Mthuli Ncube.
Biti believes the government will blame its alleged ineptitude on the coronavirus crisis instead of adopting policies that will rescue the economy from the current imbroglio. Biti posted on Twitter:
<blockquote>[Today] the regime presents a knee jerk involuntary Mid-term Review in the backdrop of a complete meltdown. It’s Armageddon out there. Total loss of confidence, zero productivity, hyperinflation [and foreign currency] FX chaos. The Stock Exchange has been shut, workers are in turmoil and markets are jittery.
Predictably regime will lump blame on COVID-19 to justify a huge supplementary budget and a series of tax increases many of which will be in US$.
The macroeconomic framework will be revised to recognize contraction but the regime will not accept responsibility for its incompetence and missteps.
Any review that doesn’t attend to real reform will be a damp squib. The regime must: 1) dollarise 2) Remove export surrender rules 3) Pay US$ wages 4) Scrap the 2% IMT tax 5) Open Stock Exchange6)offer incentives to industry 7) offer secure land title 8) deal with corruption 9) balance books.</blockquote>
Earlier this week, the Zimbabwe National Statistics Agency (Zimstat) indicated that the country’s annual inflation rate for June slowed down from 785.55% in May to 737.26% while month-on-month, the inflation rate in June was 31.66%, up 16.53 percentage points on May‘s rate of 15.23%.
However, the Consumer Price Index (CPI) for the month ending June 2020 stood at 1,445.21, up from 1,097.65 in May 2020.

'Expect Huge Tax Increases, Some In US Dollars', Biti Speaks Mid-term Budget Review

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