News / National
Civil servants pin bonus hope on national budget
08 Dec 2016 at 00:10hrs | Views
Finance minister Patrick Chinamasa is set to table the 2017 National Budget Thursday afternoon with restive civil servants anticipating a bonus payment announcement.
The budget comes two days after President Robert Mugabe delivered a drab State of the Nation Address in parliament.
The 2016 budget was $4 billion and the figure is largely expected not to significantly change for next year.
Economic analysts and business executives have said Chinamasa needs to present a stimulus plan to turn around the deteriorating economic environment after growth projections were slashed downwards twice this year.
He also has to deal with a plethora of challenges that are plaguing the country, including an economy in recession, pleasing an agitated public service, persuading sceptical international lenders to provide a desperately needed financial bailout, narrowing the budget deficit, stabilising public debt and rebuilding fiscal space.
Civil servants' salaries and wages continue to chew the biggest chunk of the budget, gobbling 97% of revenue in the first half of the year.
The civil servants' numbers increased between February 2009 and December 2014, from 203 362 to 276 123 despite a recruitment freeze.
This has left the country with nothing to finance capital projects and social services that have been neglected
The budget comes two days after President Robert Mugabe delivered a drab State of the Nation Address in parliament.
The 2016 budget was $4 billion and the figure is largely expected not to significantly change for next year.
Economic analysts and business executives have said Chinamasa needs to present a stimulus plan to turn around the deteriorating economic environment after growth projections were slashed downwards twice this year.
Civil servants' salaries and wages continue to chew the biggest chunk of the budget, gobbling 97% of revenue in the first half of the year.
The civil servants' numbers increased between February 2009 and December 2014, from 203 362 to 276 123 despite a recruitment freeze.
This has left the country with nothing to finance capital projects and social services that have been neglected
Source - Byo24News
